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 and take the pledge, to be prepared for the next financial emergency


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


#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

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Saver Stories View all »

How Smart Financial Decisions Can Create Opportunities 

Written by Stephen Ross, America Saves Program Coordinator | November 22, 2019

Of the many stories Military Saves shares, most describe how someone was in dire straits financially and worked their way out of it with the help of Military Saves. This time we want to highlight a different kind of story. This is a story about how responsible financial decisions can build on one another to create opportunities you thought only the super-rich enjoy.


Building a Six-Figure Savings While Enjoying Life

Written by Jackie Toops | November 13, 2020

Does the idea of saving up hundreds of thousands of dollars seem impossible? How about doing it while still living an enjoyable lifestyle?

For military spouse Martina and her husband, an E-5 in the Navy, accumulating a six-figure savings has become a reality. One might think that in order to save this much, it would take a great deal of sacrificing and forgoing a certain quality of life, but Martina and her husband would disagree. “Over the past few years (about five), we've managed to save almost $120,000 while mostly living on one income. We've learned so much about easy ways to save money and live a good life,” shares Martina.


Making Saving Automatic Leads to Personal Success

Written by Lila Quintiliani | May 27, 2020

Ryan’s savings journey started when he was an active duty airman. Frequent deployments and temporary duty assignments gave him the opportunity to save. By the time he transitioned out of active duty, he had built up a healthy rainy-day fund and had started to aggressively save for retirement.