Every parent wants to give their child the best possible future, and for many families, that includes access to a great education. Whether you’re planning for private school, college, or both, the cost of education continues to rise. Having a plan in place and starting early can make all the difference.
If you’re looking for ways to save smart and stay ahead of the financial curve, here are a few practical tips to get started.
Use the Savings Tools Available to You
As a member of Polam Federal Credit Union, you have access to financial products that can help you build your education fund. Our dividend-bearing savings accounts are a great place to begin, allowing your money to grow steadily over time. For longer-term goals, our certificates of deposit offer higher returns with flexible terms up to 36 months. Because we are a not-for-profit institution, our rates are designed to benefit you, not shareholders.
Make Everyday Spending Work for You
If you have a Polam VISA debit or credit card, every purchase you make can help support your child’s education. With our rewards program, you earn points that can be redeemed for gift cards. These gift cards can be used to buy back-to-school essentials like clothes, classroom supplies, and tech accessories. It’s a simple way to turn your daily expenses into real savings for your child’s future.
Explore Scholarship Opportunities Together
When your child enters their senior year of high school, it is a good time to start exploring scholarship options. Many organizations offer scholarships based on academic achievement, personal interests, or community involvement. Even smaller scholarships can go a long way in covering books, materials, or fees. Encouraging your child to apply not only reduces costs but helps them take an active role in their education planning.
Saving for education is not always easy, but every step you take now can create more opportunities down the road. At Polam, we are committed to helping our members make smart financial choices and build a secure future for the next generation.