Preparing for College
It’s a frightening task for many parents: paying for your child’s education.
Saturday, May 31st 2014, 3:55 PM PDT
It’s a frightening task for many parents: paying for your child’s education. But that fear can be lessened if you plan in advance, according to officials with Nevada State Treasurer Kate Marshall’s office and Upromise, a group that helps families prepare for college.
They have teamed up to make college more affordable in a couple of ways, and informed parents at the Discovery Museum in downtown Reno Saturday. First, Upromise creates a plan similar to a 401 K, where parents can enroll their child, and the state will match the parent’s investment, up to $1,500.
The second program, known as the Nevada College Kick Start allows kindergarten students to have a college account with $50.00.
The idea behind these plans is to let kids know that somebody believes that they will make it to college.
“Kids are sevent times more likely to attend some form of higher education if they have some sort of college savings account in their name,” said Alexandra Smith, Program Officer with the College Savings Plans of Nevada. “It doesn’t matter if it’s $50.00, $1,500.00 or more.”
Some parents Saturday say even though their child’s higher education is a priority, it can be hard to prepare financially.
“I haven’t really prepared like that,” said Max Lybbert, parent of three kids. “But the oldest kid being 10, he’s only eight years down the line (from college).”
“We have minimal savings and we talk about it all they time,” said Nicole Lubram, mother of three kids. “We haven’t made too many plans about that. We always think we have more time.”
Click the link to get more information from the Nevada Treasurer’s office on these and more college savings plans:
Written By Landon Miller