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In 1979, my husband died, leaving me with a three month old. College expenses were not on my mind then, but I did receive social security payments for our daughter, which I was able to save since I was working. When the CollegeAdvantage program became available, I took those savings and put them in CollegeAdvantage, saving enough for four years of college. I am a teacher and investing in education is a priority. Investing in my home state was also a plus because of the state tax benefits.
My daughter lived on campus and graduated with a BS from The Ohio State University. Her tuition, room and board were all paid from her CollegeAdvantage account. There was even a bit left to help with her master's degree from The McGregor School at Antioch.
My daughter is now married and they have two daughters. She has been teaching first grade for eleven years. We count the college savings plan as a blessing in our lives. We see other family members still carrying large debt from college loans, and we know how difficult that can be.
Starting to save when the children are young is the way to go. We are now looking at the 529 plan for our granddaughters and saving for their future college expenses.
Posted on April 10, 2015