If you follow me on Facebook or Twitter, you know that I just took my firstborn son to college. You know that because I have whined incessantly about the emotional toll and OH MY GOSH how would I ever be able to drive away? And by drive away I mean to the Boston airport that is 3,000 miles away from my home in San Diego. It was even more emotional than I expected. There are thousands of people who happened to be in the Logan International Airport with me that day who are scarred for life from watching me sob my way through ticketing, security and then in my seat while I awaited the departure of my flight.
There is another major stress that is involved in college and that is the financial toll. My son’s annual college tuition, including his dorm, books and food is nearly $60,000. Did you notice the “annual” part of that statement? That means over four years his college degree will cost $240,000.
Every financial planner will tell you to start when they are born and designate a certain amount of dollars each month to a college fund for each child. Easier said than done for most of us as life in general is expensive and making ends meet can be hard enough without having to designate funds to something 18 years away. That said, student loans are at an all time high and who wants to send their kids out into the world after college with massive debt?
SpendSmart is going to provide some much needed relief to one family in the form of a $10,000 scholarship. Whether your child is currently in college, heading there soon or a newborn, you need this.
SpendSmart is excited to give parents a chance to kick start a new college fund for your teen, or add to existing savings:
• 1st prize is $10,000
• 2nd prize is $5,000
• 3rd prize is $2,500
Visit SpendSmartCard.com to enter the sweepstakes and find out more about smart ways to save for college. SpendSmart knows that saving for/financing college is a major undertaking, and we are supporting through this sweeps as well as through college-related resource articles in the resource center.
You must be 18 or older to enter
No purchase necessary; enter by signing up teen for free trial card OR by mailing in a SASE to SpendSmart Prepaid Cash for College Sweepstakes, PO Box 71365, Clive, IA 50325.
One of the greatest gifts you can give your child, aside from love, is a debt free adult life and that begins with a college payment plan. Go enter now, and good luck. I wish each and every one of you could win this.