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Eight suggestions for letting eight children finish college

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If you have eight children and want them to finish college, things will be a little more complicated. The following eight suggestions can help you achieve your wish.

  • 1. Plan as soon as possible: The children’s college education should be planned as soon as possible, instead of waiting. If you are still thinking about having a group of children, you must consider their future college education as soon as possible.
  • 2. Save as much as you can: Save as much as you can for your children’s education. It is difficult to save money. Unless you are the CEO of a Fortune 500 company (if you are, congratulations. I am flattered that you read my article), you may use your savings to support eight children to attend Princeton University. In fact, you can’t afford all the tuition fees for children to attend local state universities. But just because you can’t pay for their education, doesn’t mean you don’t need to save money. Save as much money as you can. As soon as children are born, they plan to save at least 29 dollars per month for each child; You can give each child $10000 when they graduate from high school. Not enough, but $10000 is better than nothing.
  • 3. 529 student aid plan: put money into the “529 student aid plan”. This is a tax exempt savings plan sponsored by a state or university, and is not taxable if it is withdrawn for eligible educational expenses. The plan requires the designation of beneficiaries, but it also allows you to easily change beneficiaries without penalty.
  • 4. Share the burden. You need to share the burden of education with your children. Encourage children to earn money through labor and go to college. Their savings may be as much as yours. When they graduate from high school, the college education fund will double. They can also take part-time jobs in college and summer vacation to earn more money to pay for college tuition.
  • 5. Scholarship: encourage children to get good grades. Even if only a few children can get scholarships, it can also help other children. Some scholarships require application conditions; Even if you have a good job that can earn money, but you have eight children, you may also meet the requirements. Some scholarships do not set thresholds or require scores. Encourage your children to apply for at least a dozen scholarships. many a little make a mickle.
  • 6. Tax credit: The “American Opportunity Tax Credit” and “Lifelong Learning Tax Credit” programs provide effective help for people who pay for education. Part of the amount can be refunded, which means that even if the income tax is not paid, part of the points can be deducted. In addition to the decreasing amount, eligible expenditures can also be reduced.
  • 7. Let the children stay at home: I can imagine you are eager to let the children leave home when they grow up, but if you let them stay at home during college, you can effectively eliminate a large amount of expenses. Remember to let the children do housework.
  • 8. Don’t give up: Follow the above suggestions, and the plan of eight children going to college can be realized. Nothing is more important than to let children receive college education in order to get a better future life. Keep encouraging children and saving money.

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If a family with eight children can afford the college tuition of all eight children, you can do the same. These recommendations apply to families with 1 to 15 children.