Saving for College and Paying off Student Loans

Whether you’re going back to school shopping, saving for college, or paying off a student loan, education can be an expensive part of your family’s budget. Military Saves is here to keep you on track when it comes to saving for education or paying off student loan debt. Here are blogs, social media posts, and resources on the topic. Feel free to share with your constituents.

Social Media

Military Families have so many opportunities for college assistance! Make sure you’re aware of everything you qualify for. Here’s a rundown on common resources from @MilitarySaves:



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Are you one of the 17.8 million people repaying student loans or one of the 7.4 million currently in school- you’ll want to read this! Illinois Saves is sharing the best ways to ensure you don’t fall into delinquency: Saving During Student Loan Repayment.



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Life comes at you fast. We want you to be ready for those small, inconvenient emergencies that "pop up"— like a car or home repair. We encourage you to "Set a goal. Make a plan." by taking the @MilitarySaves pledge, and receive tips and nudges to help you #save.



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College application is in full swing, and hopefully you’re not just starting the process to figure out what you can afford. @realKateHorrel has some great advice on how to know what you can afford and more via @MilitarySaves: Saving For College


Social Media Conversation Starters*:

1. In your financial plan, what is most important...saving for your kids college or saving for your own retirement?

2. When you or another military family are experiencing a financial emergency, what is your go-to military resource for short term help?

P.S. For a long term plan, visit militarysaves.org and take the pledge, to be prepared for the next financial emergency

Resources

Partner Organization Resources & Highlights

FINRA How to Save for College

FINRA Smart Saving for College

Securities and Exchange Commission - 10 Questions to Consider before Opening a 529 Account

Military One Source - Financing a College Education Factsheet

Military One Source Spouse Education Career Opportunities

Department of Veterans Affairs - Education and Training

Student Money Management Center

University of Illinois Saves

Blog Content

Title: Education Benefits for Service Members and Their Families

Service members and their families can save on college and education expenses by taking advantage of available military benefits. But it is not always easy to keep up with the vast amount of information on the topic. Here is an overview of some of the resources out there:

Author: Lila Quintiliani

Tags: college, education, gi bill, tuition assistance, scholarships, military children

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Title: Saving For College

The college application season is getting into full swing, and high school seniors and their parents are starting to think seriously about college expenses and how they are going to pay for them. It’s a busy, confusing, and emotional process, but it is important that you take the time to sit down and figure out how much you can really afford, and where the money is going to come from.

Author: Guest Post from Kate Horrell

Tags: college, education, military children, scholarships

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Title: Save for your Dreams!

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Title: Saving During Student Loan Repayment

Over 44 million people hold $1.56 trillion in student loan debt. 11.4% of those borrowers are in delinquency or default. According to MeasureOne, private student loans make up an estimated 7.71% of the total outstanding student loan debt, so the vast majority of student loan debt is federal.

If you’re one of 17.8 million people in repayment or the 7.4 million currently in school, these can seem like very scary statistics. The important thing to remember is that there are a lot of ways to help federal loan borrowers avoid delinquency and default and even save some money. Here are a few:

Author: University of Illinois

Tags: student loans, education, college, reduce debt


Events

#SavingForCollege Twitter Chat
Hosted by Sallie Mae and America Saves
Wednesday, September 25th, 2p EDT


From the Archives:

The Basics of the FAFSA Free Application for Student Aid

Saving for Education is Simplified in 2018

Tip of the Day

  • Written by Guest Blogger | May 14, 2014

    Pay more than the minimum due on your #credit card & pay off your bill sooner. More tips at http://ow.ly/wOaVh.

Saver Stories View all »

When You Start Small, Saving is Easy

When Attiyya first got married, she and her Marine husband had just graduated from college and were focused on paying off student loan debt. They had both attended private schools and had sizeable loans. Then three months after the wedding, the couple found out they were pregnant with their first child.

The first year of their marriage, says Attiyya, was a balancing act between paying down debt and saving for the future.

Read more...

Involving Kids in Family Finances

Written by | April 19, 2019

 

One of the best lessons we can share with our kids is about money. By middle school, kids should have a good understanding of how money works as well as the importance of saving.

Read more...

Setting a Goal Leads to Success

Written by Super User | May 24, 2019

Growing up, Marisa’s dad had always talked about saving first, but she said she didn’t really internalize it until much later. “I was drifting along with no plan, carrying a little bit of revolving debt, saving some money here and there, but without a real plan for it.”

Read more...