Whether you are a former college student, a current college student, or you are considering college, you most likely have seen changes in tuition costs through the years. Unfortunately, those costs are on the rise. What does this mean for our own children when it’s time for them to enter through those learning doors of higher education? It’s a scary thought isn’t it? The truth is most likely those costs will be pretty high. Our jobs will be to encourage our children to work hard in school in order to obtain scholarships to help cut those tuition costs on top of college funds.
According to the SallieMae Calculator by the year 2024, college tuition may be pretty high. Here is what the average cost of annual tuition costs looked like in 2007:
For two-year public colleges $2, 191
For four-year colleges and universities (In state), $5, 491
For private four-year colleges and universities $21,235
According to Pinyo over at Moolanmy, here are some other figures to consider on top of these costs:
Annual cost of attendance: $22,000
Years until child starts college: 17 years (This figure beginning from 2007)
Expected annual cost increase: 7%
Expected number of years of college: 4
The grand total according to the above information just for one child is estimated to be $308,549. It is most likely higher than these figures now being four years later. I already feel my head spinning. So by 2021 with my first child attending college can you imagine the rise in tuition costs by my second and third child? The grand total alone is so very discouraging. It could be over $900,000 for my children to get a college degree. Phew! A very overwhelming and intimidating number to say the least.
Another figure that caught my attention was say your child was born in 2003 like my oldest. Experts are saying that by 2021 tuition costs for a public institution could be $95,000 for an undergraduate degree. A private college could run towards $240,000. So as you can see most likely tuition costs will continue to climb from 2021. Can you imagine what it will look like by 2024 and so on?
It’s a good idea to start college funds as soon as possible. Whether it’s your own private fund or a special college fund it’s good to get a head start on these things. Let’s take a look at some of college saving programs available for your children. Family members can even jump on board as well.
College Savings Plans
529 Plan- What is the 529 plan? The site Saving for College states “the 529 plan is an education savings plan operated by a state or educational institution designed to help families set aside funds for future college costs.” “It is named after Section 529 of the Internal Revenue Code which created these types of savings plans in 1996. Every state at least has one of these plans available.”
Upromise- “Upromise is a free service that helps you get money for college bills and student loans from the things you do all the time: Buy groceries, shop online, fill you gas tank and much more.” ~Upromise
Coverdell Education Savings Accounts- (ESA) This incentive is created to help parents and students save for college education costs. For more information got to IRS.gov
Prepaid tuition accounts- Prepaid plans allows individuals to purchase a fixed percentage of tuition. Basically you can lock in tuition rates. For detailed information on prepaid tuition accounts and plans go to “Prepaid Tuition and Savings Plans.”
U.S Savings Bonds- Savings Bonds are highly recommended as you cannot buy or sell them unless authorized to do so. If your child’s names are on the savings bonds, they are the owners. These are the safest way to go. For more information you can go directly to the “Savings Bonds” website.
Custodial Accounts- These are the most controversial of savings plans. Why? It is a savings account in your child’s name which the parent controls until they are of the legal age of 18-21. According to BabyCenter “these accounts are very easy to set up with a few restrictions.” There are however some serious disadvantages to custodial accounts one of them being the accounts are taxed heavily. For more details on the disadvantages of these types of accounts go to BabyCenter/Saving for college.
Individual Retirement Accounts-(IRA) According to Investopedia, “this type of account is basically just an investing tool used by individuals to earn and earmark funds for retirement savings.”
If you currently serve or have formerly served in the military, there are additional scholarships for you and your children. Go to Spouse Buzz for more details.
Do you feel like you are running out of time or losing time saving for your child’s future college education? No worries, according to Money Central you still have options available to you to help reduce those rising college tuition costs. Check out the article “Cram for college costs in five years or less” by Liz Pulliam Weston.
For more information on which savings plan is right for you go to “The College Savings Plans Network.”
Have you started a college savings fun for your child or children? Please feel free to share with us your progress and possibly which college savings route you took.
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I am sure many of us have heard of this particular day whether it’s “Bring your son to work day” or “Bring your daughter to work day.” I think I like the idea of “Bring your child to work day” better as it definitely prevents any sibling rivalry or jealousy amongst the bunch.
According to Chiff, bring your child to work day is dated for April 28, 2011. Why take your child to work anyway? This is an excellent question. In all honesty, I think it would be fun to bring my child to work. Okay, I may be stretching things a little bit here right? Well, if you think about it not only do you get to spend time with your child in a completely different setting, but they definitely get to learn something from this experience. This particular experience embeds into their minds that careers are important which will most likely raise their curiosity and dreams of having their own career one day. I know that it worked for me. I remember pretending I was my dad’s secretary when he took me to work. Though I didn’t become a secretary as my profession, it still made me think about what I wanted to be when I grew up (a teacher).
Trivia Facts
What is “Take your child to work day” about?
According to About.com , this day allows parents to bring their child or children to work. It is not a national holiday in America but many companies allow their employees to participate in this particular day. Companies are not required to participate.
When does it usually take place?
Only once a year usually in mid spring (The fourth Thursday in the month of April), Like previously stated, this year’s date lands on April 28, 2011.
When did “Take your child to work day” first take place?
It started in 1993.
Who is the founder or founders of this particular day?
A non-profit organization known as the Ms. Foundation (organization worked to promote women’s issues), sponsored the very first event.
Why was this day started in the first place?
Originally, the day was called “Take your daughter to work day.” The focus of this was to help teenage girls get career experience and exposure encouraging them to achieve their career goals.
What is the official name of this event?
It is now known as “Take your child to work day.” Many like to refer to it as “Take our daughters and sons to work day.”
“Take your Child to Work Day” Statistics
According to About.com over 25 million children participated in this event in the millennium.
Can Work-At-Home home moms participate in this event?
Children are honestly learning from you as a mom everyday. But you can be a professional mentor showing them how important career goals are. Let them share with you what they would like to be when they grow up.
Tips for bringing your child to work
Again, because it’s not a national holiday we can’t assume that every company will participate in this particular event so it is best to check with your employer before bring your child to work. If your boss gives you the okay, here are a few tips from About on how to make this day near perfect.
- Determine how long your child is going to stay at work with you. A full day? Or half a day?
- Be sure to plan your visit ahead of time.
- Be sure to communicate with your child’s school that they will be absent that day to participate in “Take your child to work day.” Many schools are happy to promote this day as it promotes future career development.
- Talk to your child. Let them know what you do exactly at your job, then when you arrive they will be able to see you in action and soak up everything like a sponge.
For a detailed look at these tips check out the official article at About.com.
Bring your child to work day ideas
Chiff has some brief “Bring your child to work day” ideas that you may consider, especially if they are related to your field of work. The ideas sound fun and educational and I may try some of them with my children. Here are some examples:
- Science Projects- For some fun ideas on Science projects for kids go to Discover This.
- Kids Digital Camera Projects- For an article looking at the value of kids’ digital cameras go to Chiff.
- How To’s for teaching kids how to budget- For information on teaching kids how to budget go to the Simple Family Budget Guide.
- A guide on how to turn a hobby into a full time career- Check out Chiff’s hobby article on how to achieve this goal.
For more information on this annual event, go to “Take our daughters and sons to work foundation.” I believe the site isn’t updated for this year but it gives you great ideas how you can actively participate with your son or daughter on this day.
Have you ever taken your child to work? Would you consider taking them to work this year? Please share your experience (if any) with us or let us know if you will be bringing your child to work on “Bring your child to work day.”
Get professional certificates, postgraduate certificates, or training certificates to increase your chances for a raise or promotion.
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More and more moms are finding that their dreams of becoming a stay-at-home-mom are now becoming very far fetched. I mean, how can staying home with your children pay the bills and put food on the table right? Guess what? There is work at home options available to you so that you can make goals to still be at home with your children if this is what you desire.
Now, I am not talking about those “get paid to” programs or “start your own business” kits. ( Be aware that when looking for jobs there are scams. A good rule of thumb to remember when beginning your job search is if they want you to pay them before you work, then it is most definitely a scam. Even if the website appears to be legit, just stay away).
The kind of jobs I am referring to is based on your experiences and background to land you jobs with companies needing someone willing to work from home. It is possible though I am not going to lie; it is not an easy search in the beginning. To start a work from home search is completely a whole other world. It takes perseverance and dedication. So if you are currently out in the work world setting, don’t quit your day job just yet. You may need to start small to build your portfolio and resume. Let’s take a look at some examples of industries that may allow you to work from home.
Telecommuting Industries
Writing- There are many companies looking for experts in specific fields to write articles for them. i.e., if you are a nurse, there are hospitals etc., looking for individuals that are degreed and certified in this background. Pay is usually based on experience.
Editing- If you are an editor or a copy-editor, you can also find jobs with companies willing to hire from home. Might I suggest searching from freelancing sites like online writing jobs.
Teaching- If you possess an education degree, you can find virtual teaching jobs or even tutoring jobs. Places like eSylvan Learning, Kaplan Virtual Education, Connections Academy, etc., offer teaching positions to those who can provide the proper qualifications.
Paralegal- Many law firms and attorneys usually are in need of paralegals or paralegal assistants. Many firms allow you to do this from home. Sometimes attorney’s are in need of paralegal writers. You can sometimes find these jobs on sites like work at home mom.
Medical Transcriptionist- If you are a trained and certified medical transcriptionist, there are more and more opportunities to complete these tasks in the comfort of your home while getting paid like you would in a traditional work setting.
Here are some examples of actual opportunities that are out there to give you an idea of what is available. Keep in mind these can be done from home but it is best to read the descriptions thoroughly before applying.
Associate Director, Healthcare
Hopefully by now you see a glimmer of hope to be able to work from home. You just have to know where to look to find these job postings. There is a site called Work at Home Moms (wahm), that understands what it’s like to be caught up in a scam so they dig and research companies looking to hire from home.
Are you a work from home mom? Do you have any other tips or advice you can share with moms wanting to work from their home so they can be home with their children? If you are currently not working from home but are considering this path does this information give you hope? We would love to hear from you.
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