Saving for College
SAFE Federal Credit Union cares about our young members – especially those ages 18 – 29 who are getting ready to start college or still paying off student loans.
The sooner you start saving, the better.
It's never too early to start preparing for your or your child’s future education expenses. SAFE Federal Credit Union offers saving and investment plans to help reach college savings goals.
Even modest savings can pack a punch if given enough time to grow. Investing just $100 a month for 18 years will yield $48,000, assuming an 8% average annual return.
Paying for College
There are several sources of financial aid for college:
- Grants and scholarships are the best because the money is usually tax-free and never has to be repaid.
- Federal student loans, which come in two options: need-based, which help families who can't afford college costs; and non-need-based, designed to fill a gap when the family doesn't have enough available cash to fund college tuition.
- Private loan options available through SAFE Federal Credit Union.
As heavy a burden as student loans are to repay, there are ways to make it more manageable. Let our Financial Counseling representatives work with you on your college savings and repayment plans.