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Saving for College: A Teen’s Guide to Smart Money Moves

  • Writer: Harshan Santhamoorthi
    Harshan Santhamoorthi
  • Sep 9, 2025
  • 2 min read

As another high school year starts once again, many teens are starting to think about college, and one of the biggest things schools try to inform them

about is how expensive college is. It's very true, which is why in this blog you will learn about the best ways to save for college.


Scholarships: Probably the most common way people save money for college is through scholarships. This is because, unlike college loans, you don't need to pay them back. There are many types of scholarships, including sports scholarships for outstanding athletic achievements and merit-based scholarships for academic excellence. Additionally, certain colleges may offer you scholarships to entice you to choose them. Scholarships can also help boost your chances of getting into college because they may see them as awards, especially if they're prestigious. By reducing or not having tuition costs, scholarships allow students and families to save up properly and not have as much debt.



529 Savings Plan: A 529 savings plan is the most common college savings plan. This is because it is often sponsored by states, and it gives tax benefits such as tax-deferred growth and tax-free withdrawals for reasonable education costs. You and your parents can open one that grows money for your education over time. One tip is to put a small amount in and slowly add money, and eventually, you will see your savings start to grow.


College credit: As many of you know, you're going to college to take classes, but it might be a good idea for you to reduce the number of classes you have to take. A way to do this is by taking classes that give college credit. Fewer classes during college means less time spent in a university, allowing you to not pay as much. These classes are AP (Advanced Placement), IB (International Baccalaureate), and dual enrollment, which allow you to take classes at a local university or college. So, it's important to check with your school to see if they have these programs.


Financial Aid: Financial aid helps students pay for college by giving them money if they qualify for financial need or merit. To apply, students will have to go to the FAFSA (Free Application for Federal Student Aid) website, which collects information about their family's income to decide how much financial aid they can receive. Based on the FAFSA results, students may receive grants, which don't need to be paid back. The financial aid package will be sent by the college to help pay for tuition.



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