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How to Save Money for College

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From Quick Guide: Saving for College 101

Summary: Saving money for college is extremely important, as only 3.2 percent of available college money is through scholarships, making it an extremely competitive method. Research mutual funds, CDs and endowment funds to save and gain college funds with money advice from a registered financial consultant in this free video on personal finance.

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By Patrick Munro
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Patrick Munro's affinity for investing and financial matters began more than 20 years ago with business education and service throughout the ranks of the banking, insurance and...read more

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Video Transcript

"This is financial adviser Patrick Munro talking about how to save money for college. Saving money for college is very difficult to do because college doesn't go on sale just because there's a recession in America. One of the things I've noticed out there is many people look for scholarships. In fact, only 3.2 percent of the overall money that's available for college is through scholarships, and those that are looking for those scholarships, it's a very competitive arena. Average college costs for a four year program is sixty five thousand to a hundred and thirty two thousand dollars for a four year program. And it's important to make sure that you save the money for college using savings vehicles. Normally these are mutual funds, 529 plans, and of course CDs and such. There are various consulting services that will help you get the real money for college from the endowment funds. One of the most dependable ones that I've found is called 'I Can'. And I Can is a company that you can contact through the web, it's called ican.sc. And when you go there you can basically find out the best ways to save for college. This is Patrick Munro talking about the best ways to save for college."

eHow Article: How to Save Money for College

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