Paying for College

The cost of higher education is so high, and growing at such a rate, than many families avoid even thinking about it. Nevertheless, when the time comes to start the college applications, the reality is there. But, planning for college need not be so intimidating. The CFS Financial Advisors at HawaiiUSA Investment and Insurance Services  can help you realize the dream of sending your children off to college.

First, it is important to have a goal. But, many families are not aware of the actual cost of the many college options: community college, state university, mainland Ivy League institution. Then, there is the increase in the cost of college between now and the time your child will enter.

Once you know how much college might cost, you can look to financial aid to lower your out-of-pocket expenses. Most families, however, don't understand the complexities of work-study, scholarships, grants, and parent and student loans.

Now that you know how much college will cost and how financial aid works, how much do you have to put away to achieve your goal?

Then, where do you put those dollars?: a 529 plan, a Coverdell Education Savings account, a custodial account? Do you use mutual funds, savings bonds or CD's? And, what about taxes?

Yes, it can be overwhelming, but your Financial Advisor at HawaiiUSA can help you through all this. They have training and experience in helping many families create a plan for paying for college. Working with your Advisor, when your high school senior graduates and you are prepared to send them to college, it will all have been worth it.

With the high cost of college, it is important to get started early. Click on “Our Associates” to the right and meet our staff. Then, send us an email at hiis@hawaiiusafcu.com call us at 844-8338, or stop in at a branch to set an appointment to meet with one of our Advisors.