My sister is a first time Mom, having a sweet baby girl has made her think about things and for us as sisters to have conversations that in all honesty, I never thought I would be having with my little sister. The other night on the phone we discussed saving for Olivia’s college tuition; Olivia is my baby niece. The talk was based on setting up a savings account for Baby Olivia as a way for not only them to try to save any extra change they can for their first and only child, but as a way to have family help save for Olivia’s college fund as well. With a savings account being setup, anyone could access it to deposit towards Olivia’s future, right?!
This idea of having a college tuition savings account makes perfect sense, here I am with my oldest nearing the age of 11 with no savings and no idea on how I would afford her college let alone her two little brothers college tuition. Getting yourself setup as soon as the thought crosses your mind to save for college is better than never setting up a funding source for your child’s college tuition.
GradSave is an online college registry which allows families to create a profile for their child that can be linked to a 529 college savings plan. Parents can then share their GradSave profile on social media sites or email their friends and relatives who can then gift directly to the child’s college fund. <— This is the perfect idea for my sweet niece Olivia. It’s a way for my sister to gain an account that she wishes to have for her sweet baby girl while allowing for family to give a gift of savings towards college tuition with GradSave gift cards each holiday.
What’s more is that you can actually setup to have a monthly auto-billing in place to send a specific amount each month to your child’s plan, in turn saving for your child’s college plans without even thinking twice about it. GradSave is not only a fantastic tool to encourage families to work together to save for our next generations education but also makes the process so easy, it’s as if it’s a no brainer process for parents to start encouraging college savings within their circle of family and friends.
Each year when your child’s birthday rolls around you can share their unique GradSave profile URL within each invite so that family and friends can give a gift that lasts longer than the latest trinket or electronic gift.
Twitter: Massachusetts
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We have 529 plans for the boys and contribute as much as we can – which isn’t always a lot, but every little bit helps.
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Twitter: Michigan
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We purchased pre-paid plans for the kids when they were little. The oldest has military benefits so cashed his in for a car, and the second oldest is using his now. I like the programs that cost a little when they’re little and cover a lot when they’re the right age to go.
This is good information to share.