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It's one of the biggest investments you'll ever make – college/university tuition. With tuition rates increasing every year, it takes a whack of money to pay for 3-4 years of education.
Sound scary? Here's some tips to get you on the right track.
Start Early
Saving any amount of money can make a big difference in what you can afford to pay for college. The earlier you start the better, but don't pass on saving altogether just because you think it's too little or too late.
Harness the Power of Interest
For every dollar you save, you earn money through interest. The longer you save, the more money you earn.
Save More Now, Borrow Less Later
Remember, college is a long-term investment. Like other investments, most students pay for college through a combination of savings, current income, and borrowing. This means that the more you save, the less you'll need to borrow, and the less you'll need to take from current income.