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 | September 30, 2014

    Rounding #debt and #mortgage payments up to the nearest $100 will get you out of debt years earlier.

Saver Stories View all »

Money on the Side

Written by Super User | November 26, 2010

Camp Arifjan, Kuwait -- A colonel in the 1st Theater Sustainment Command has money on his mind.

Army Col. George Fields, the Chief of Intelligence, or G2, has been teaching a free "Managing Your Money" class here in his spare time. More than 400 students have attended his six week-long class to learn more about increasing their own finances.

"All I did was sit down and listen to a guy one day who showed me what he was doing" said the colonel as he explained how he became interested in what he calls, "becoming financially free."

Read more...

A Plan for Success

Written by Super User | April 26, 2012

I’m Staff Sergeant Robert Zuniga and I have been an active duty Air Force medic for eight years. I plan on staying in long enough so that I can retire at 20 years. I have always been interested in personal finance and would like to share how it IS possible for me and my stay-at-home wife and two kids to not only save and invest a ton of money but also have a lot of responsible fun as well on 'low' enlisted pay. You CAN do it too!

First off, we write down our goals and separate wants from needs.

Read more...

Naval Battalion's Effort Yields Team Success

Written by Super User | November 26, 2010

Construction Battalion Five, DETAIL CHINHAE would like to share our campaign success story with you!

Currently we have 23 members on our Det, (all of whom have registered with militarysaves) and out of them 16 are planning for retirement by saving and investing money in the Federal Thrift Savings Plan.

Read more...