How to Save for College: A Guide for Families

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Jul 18
2 min read

College can open doors, shape futures, and help your children reach their full potential. But with rising costs, it’s natural to feel uncertain about how to afford it. At Platinum Federal Credit Union, we’re here to help our members—especially parents—plan ahead with confidence, intention, and peace of mind.

Graduate in cap and gown lifts diploma towards a bright sky. Sunlight creates a hopeful and celebratory mood.

💡 Step 1: Start Early—Even Small Amounts Add Up

The earlier you start saving, the more time your money has to grow. Even modest monthly deposits into a dedicated account can make a significant difference over 10–15 years. A simple plan started today can reduce or even eliminate the need for student loans tomorrow.

Tip: Set up an automatic transfer into your PFCU College Savings account. You won’t miss the money—and you’ll build a habit.

📚 Step 2: Explore Savings Options that Work for Your Family

There are several smart ways to save for college:

Savings Accounts: Safe, easy-to-access options for shorter-term goals.
Certificates of Deposit (CDs): Earn higher rates while keeping funds secure.
529 Plans: Tax-advantaged investment accounts specifically for education expenses
PFCU College Savings Account: Deposits in PFCU College Savings Account do not drop in value as compared with the 529 plans. PFCU pays interest rate monthly, which is equivalent to 3 years Certificate of Deposit

📈 Step 3: Get Your Child Involved

Teaching your child the value of saving and budgeting early is one of the best gifts you can give them.

Encourage them to open a PFCU Youth Account.
Talk openly about costs and goals.
Celebrate milestones together—whether it's reaching a savings goal or applying for scholarships.

🏆 Step 4: Don’t Overlook Scholarships & Financial Aid

Every dollar saved is a blessing—but free aid is a powerful companion. Help your child research:

Academic and community-based scholarships
Need-based grants
PFCU’s Annual Scholarship Program

🙌 Step 5: Lean on Us—We’re Here to Help

At PFCU, we believe education should never feel out of reach. Whether you're saving for your child’s future or your own continuing education, we’ll help you create a plan that makes sense for your life and values.

Professor lecturing in a bright classroom with a projector and chalkboard equations. Students listen attentively. Mood is focused.

Let’s talk. Call/email us at (404) 297-9797 or memberservice@platinumfcu.org or visit your local branch to get started.