Any parent can attest to this truth: We all want what’s best for our children, even if it costs a little extra. Ensuring your children have access to the best education possible is part of that. While many parents choose to send their children to public school, others express interest in pursuing private education. Whether it’s K-12 or college, education doesn’t come cheap—and we’re here to help you save and make the best financial decisions.
If you need assistance getting started on saving for your child’s education, here are a few tips:
Check out Polam’s savings tools.
As a Polam FCU member, you have access to a variety of savings tools, including our savings accounts and certificates of deposit (CDs). Our savings accounts are dividend bearing, so you’ll earn interest on the money you save and accrue. Our CDs are designed for members who are saving at a higher rate, with flexible terms up to 36 months. And as a not-for-profit financial institution, our rates are far more competitive than those at big banks.
Take advantage of the rewards points you earn.
When you use your Polam VISA debit or credit card for everyday purchases, you’re earning rewards points on everything you buy. These rewards points can be redeemed for cash back, which you can use to offset school costs such as back-to-school clothes, supplies, and electronics.
Encourage your child to apply for scholarships.
Once your child is a senior in high school, they likely have a clearer idea of what they want their educational future to look like. Scholarships can help cover college costs, and with a little research, you can find ones that align with your child’s interests or goals. Even if a scholarship only covers a semester’s worth of books, it’s still a valuable resource.