Saving for College and $25 Giveaway!
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Saving for College and $25 Giveaway!

Posted on Monday, July 11th, 2011 at 9:12 am
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Giveaway has ended. Check back in the blog to see if you’ve won!

I have to admit that we are way behind in saving for college for our three kids. It is pretty scary, because I know that college will be here before we know it.

On my oldest son’s birthday, when he turned 10 two weeks ago, my husband said to me, “You know, he’s already spent half of his time with us.” Wow. It is true. By the time he is 20, he will already be settled in to college. It was a shock and did bring a little tear to my eye. Can I keep him home forever? Maybe his future wife will just move in with us, too? Yah, I know I’m dreaming.

I know college isn’t for everyone, but this son wants to be an engineer, so there is no getting around it. Even if he changes his mind, we would still like to have money set aside for whatever training he will need for his career.

It is funny how things work. My husband and I have just gotten to the point in our financial goals where we are almost ready to start college/career plan savings for all three of the kids.

We sat down and started exploring our options, and the next day, I got an email from Sallie Mae that was all about saving for college! They included a bunch of tips that I wanted to share with you, such as the following:

  • First, understand the full cost of college and build a plan to save for it
  • Start saving as early as possible in a dedicated college savings account
  • Look into 529 college savings plans because they are tax-advantaged
  • Also consider savings and CD accounts because they are low risk
  • Save more with a Upromise account
  • Ask friends and family to contribute to the college fund on birthdays and holidays (I really like this tip).

You can learn more savings tips at the Sallie Mae website.

The email also announced a cute new survey that they are conducting called:  “What I Want to be When I Grow Up” to capture all of those fun ideas that kids have about their future. You can take the short survey here, and the results will be announced in a few weeks.

I was really interested in learning more about college savings, so I contacted them back, and they sent me a reply email within minutes. They asked if I would share the survey with all of you, and as a bit of incentive are offering a chance for two of our readers to win a $25 gift certificate to!

Here is how to enter the giveaway for the $25 gift certificates.

  1. Enter the Sallie Mae Grow Up survey (5 short questions)
  2. Send me an email ( telling me what you wanted to be when you grow up. Be sure to put “Sallie Mae Giveaway” in the subject line and include your name and email address, so they can send out your prize if you win.

I won’t share your information, with the exception of sending the randomly chosen winner’s info to Sallie Mae.

The giveaway will run from today until 11:59 ET on July 17th, 2011.

Good Luck!

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