The cost of college is rising. Fast. While tuition continually out paces the rate of inflation, middle class families can easily be left behind if planning for college costs doesn’t start early. To get started, check out state-sponsored college savings plans, often called “Section 529 Plans.” These plans are designed to help families save funds for future college costs. Here is what you need to know to start saving with a 529 college savings plan. Read more…

College, for most, is that special time in life that will never be forgotten. New people, new experiences and being exposed to new ideas is what college is all about. But unfortunately college usually gives way to a huge burden of debt upon graduation. Books, food and all the other things taken for granted in the past can add up fast to put a strain on a student’s bank account. But fear not! It is true that college may be the single most expensive time in someone’s life, but that doesn’t mean that students have to leave college with huge debt or any debt at all. Here are the 5 easiest things a person can do to save money while attending college.

Manage your money the smart way. As soon as you can start a checking and savings account and if possible start a high-yield savings account. This will not only help you to save money but it will also let you put money aside for an emergency. But watch out: always keep track of your bank accounts to avoid costly overdraft fees. Signing up for Upromise is an easy way to earn money toward college tuition. By making everyday purchases, a percentage can be put toward paying your students loans which means less you’ll have to pay back later.

Rent or borrow books instead of buying. Let’s face it, books maybe the highest expense you will face during college besides tuition. A Department of Education study found that since 1986, textbook prices have risen almost 186 percent, or 6 percent a year. Compare this to other products in the same market which rose only 3 percent during the same time frame. Here is a tip: never buy books from your college’s bookstore. On average they have higher prices than outside bookstores and online stores like Amazon.com and Half.com. Check out Chegg.com if you are interested in renting books. And keep on the lookout for frineds that have had the class you need to take next semester. Its likely they will let you borrow his or her old book. Read more…