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It is never too late...or too early to start saving for college
It is a phrase that I hear over and over again, “my child is in the (insert grade here) it is too late for me to start saving for college. While the best time to save for your child’s college education is when they are young, it really is never too late to start.
Having a college savings account, even a small one, increases the chance of a child attending college. According to a Center for Social Development-- George Warren School of Social Work study, even the smallest amount of savings can make a huge impact on children in low to moderate income households. “A [low to moderate income household] child with school savings of $1 to $499 before reaching college age is more than four times more likely to enroll in college than a child with no savings account.”