You are a working mother, and you pay for kids education.
Maybe the kid is in a private school or the child is now a college age student and is attending a college or university. You know that it’s a tough road to travel, trying to balance your finances, your life and trying to supplement the financial obligations to your child. School tuition is not cheap and even well-off two-parent households have a hard time sending their children to private schools or to college. It seems like an impossible task to provide for your child’s education when maybe you are even getting an education yourself at the same time.
There are ways to help with your money and your time when you’re trying to pay for your kid’s education. You may already be working one or two jobs to pay for your own finances. The best way to pay for your kid’s education is to pre-plan. When the child is born, start a savings account or a pre-paid tuition account for them at a local college or university. These types of programs will allow you to put a little money in each month so that when your child is ready to go to a private school or college you have the money ready for them. This way you won’t have to take out any loans bearing a large interest rate or put yourself under financial stress trying to pay tuition.
Some states, such as Wyoming, offer single parents assistance when their own financial means cannot meet the tuition or book costs. Check with your local department of family services or other child welfare service for more information.
There are also many online advice groups that can help you find out more information about paying for your kid’s education. These networks of single mothers provide advice and information to other mothers that are facing similar hardships. Online social networking of single mothers are a great way to make new friends and get great advice of how not only to pay for your kid’s education, but other trying matters such as balancing time, work, and a quality life for your child.
Tuition rates are going to go up. Currently, in some universities the tuition rate has gone up 10 to 12% a year. If your son or daughter has just been born, the tuition, which is already high, it’s going to be almost 180% higher than it is now when they are 18 years old. It is time to start looking at your finances and putting away money now.
If you have low credit or bad credit scores, putting away money in a kid’s education fund is a great way to build your credit. With a higher credit score, you can make large purchases like a home or car. If the education fund that you have put in place does not pay for tuition completely, your higher credit score will allow you to get a lower interest rate loan to help pay for your child’s education. Just because you’re a single mother is no excuse and your child can have a quality education they deserve when you can pay for kids education.