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How to save money for tuition fees

As soon as your child is born, parents can start saving for their children’s college education.

With the fees going up each year, it is better to have a solid financial plan so that it is not difficult for you to send your children to college when they grow up.

In addition to the money you have saved yourself, here are the 3 main sources that can help your children go to college:

1. Scholarship scholarships
2. part-time jobs
3. Financial aid

These are good alternative sources for your children to begin their university education.

But as a parent, you will not want to fall into those long lines to get financial help or let your child work to death just to have money for tuition and other expenses.

Here are some ways you can get a good start to getting rid of the hard-earned dollars for your child’s college education:

1. The earlier, the better.

Start investing your money as soon as your child is born.

First, place the savings or investments in your name.

Later, decide if you want to transfer the account to your child’s name when you turn 15. In this way, you will have minimum taxes, if you do so.

However, you must be careful when transferring account names.

Some states require a total rotation of funds once your child turns 18 or 21 years old. This is also ineffective if, in the future, you request financial assistance.

Also remember that enrollment rates within 10 or 15 years can double or even triple current rates.

2. Establish a trust fund for your child.

This is a very wise plan for parents or relatives of a child to invest in it.

A trust fund is similar to a fixed-term deposit in which the money will be given to your child after a certain number of years.

After the designated time, the fund can be received in a lump sum or in installments.

When creating a trust fund, review details such as interest rates, taxes and withdrawal restrictions.

In general, you should approximate the cost of tuition, room, meals, books and other expenses that may arise.

Be sure to invest money wisely as your child grows.

At the time when only two or three years are left to send your son or daughter to college, “block” a large amount of funds by investing them in low risk bonds to make sure you have enough to start your college education.

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تقوم بتزويد الخدمة لكلا من رواد الأعمال والأفراد واضعين نصب أعيننا توفير

تجربة دفع رائعة للتاجر المصحوبة بمميزات التسويق الرقمي والتحليلات، حيث تتنوع وسائل الدفع الرقمي،

فإن نظام التشغيل يقبل بطاقات الصراف الآلي وبطاقات الإئتمان و المحافظ الرقمية علي حدٍ سواء،

مما يتيح الفرصة لتوفير خدماتنا لفئة الغير متعاملين مع البنوك بحرية.

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ودفع فواتيرهم بالطريقة المفضلة لديهم من خلال الهاتف أو الجهاز اللوحي أو الحاسب الشخصي.

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