Your grandchildren’s education is as important as any other aspect of their life. To make sure you help your grandchild through college, you may try everything possible to make it happen. This includes any resource that gives them the opportunity to be in college and acquire as much education as they can possibly get. Giving them your love and support in their education can encourage them to work even harder for they may feel very much appreciated.
Scholarships
Various scholarships such as Rotarian and military can be ideal for your grandchildren. Your grandchildren can also acquire scholarships because of their ethnicity and ancestry. Furthermore, you can help them research, find and apply for scholarships and other financial aid programs.
Offering room and board
Your grandchildren can live with you for certain duration to cut down on boarding, expenses. In exchange, the grandkids can help around your home. This arrangement can help them save on money that can be used for other purposes.
Offering gift cards
Offering discounted gift cards can really help your grandkids. The cards can be for places you know they may need to shop. You can give them gift cards for gas, grocery, bookstore, Pizza Hut, Wal-Mart, Amazon and cell phone bills.
Contributing to college savings plans
You can also contribute to their college savings plans. The 529 college savings plans help set aside funds for future college costs. Some benefits include federal and state tax breaks. The plans are also low maintenance, flexible and you maintain control of the funds.
Give them useful items that you don’t need anymore
Items that are still useful but you don’t need may be useful to your grandchildren. Such items may save your grandchildren money since they may not need to make any more purchases. The items can include house wares or even a car.
Educational awards for community service
Through your voluntary efforts in the community, you may acquire awards for your grandchildren. Volunteer organizations may offer help in terms of scholarships or loan forgiveness. The organizations may offer awards according to the hours you volunteer per year.
Direct payment to college
To avoid taxes, you can pay directly to the college. This also ensures your grandchildren receive uninterrupted education since their college fees are already catered for. It is an appropriate method for helping your grandchildren’s college fees if they are not eligible for need-based financial aid.
