Your one stop for timely personal finance education, resources and services
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September is designated as National College Savings Month, serving as a timely reminder to save and invest in a student's future postsecondary education. Paying for college may seem intimidating in the current economy, but there are strategies that help ensure families are ready when freshman year starts.
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Start Early: Start saving early for your student’s college education by contributing to an account monthly and adding more as finances allow. The earlier you start saving, the more time your money has to grow. Even if paying for college seems discouraging, act now.
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529 Plans: A 529 college savings plan offers a simple way to save money for a college education and can maximize saving efforts. Each state is different; however, one of the key elements of a 529 plan is that you pay no taxes on the account’s earnings. Benefits of a 529 plan include an Oklahoma tax deduction, a choice of investment options, and the ability to use the funds at thousands of higher education institutions in the U.S. and abroad. For more information about Oklahoma’s 529 College Savings Plan, call 877.OK4SAVING toll free (877.654.7284) or visit Oklahoma529.org.
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Plan for Expenses: It’s essential to know all the costs associated with college attendance. Expenses vary depending on the type of school attended, the number of courses taken, the student's major, and lifestyle. Check out OKcollegestart.org to find detailed information about colleges and career technology centers in Oklahoma and nationwide.
- Minimize Costs: It’s essential to know all the costs associated with a college education. The cost of attendance can fluctuate based on the type of educational institution, the number of courses taken, the student's major, and overall lifestyle.
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Concurrent enrollment allows eligible high school juniors and seniors to take credit-earning college courses at a discounted rate, and classes can be transferred to some postsecondary institutions. Learn more at OKcollegestart.org.
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Advanced Placement (AP) courses are college-level classes that students can take while they’re still completing a high school degree. Students earn college credit by completing the class and passing any corresponding exams. Learn more at OKcollegestart.org.
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Cheaper solutions: Attending a community college or living at home for the first few years of school are great ways to slash college costs while still receiving a quality education and the campus experience.
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By integrating these strategies, educators can help students build a strong foundation in personal finance, empowering them to make informed financial decisions in the future.
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Applying for grants and scholarships is a great way to pay for your education. One of the most popular scholarships in our state is Oklahoma's Promise. Students must enroll in this program during the 8th, 9th, 10th,11th, or before Dec. 31 of the 12th grade and meet other enrollment criteria. To learn more, visit OKPromise.org.
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It's critical to complete the Free Application for Federal Student Aid (FAFSA) to receive federal, state and some institutional assistance. The new 2026-2027 FAFSA will be released on Oct. 1, 2025, so complete and submit the form as soon after that date as possible. If you’re a senior at an Oklahoma public high school, FAFSA completion is now a graduation requirement. Visit with your high school counselor to learn more about this beneficial form. Visit the official FAFSA website, FAFSA.gov, to learn more.
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Check out the September edition of Financial Friday, Oklahoma Money Matters' online personal finance newsletter; this month we’re answering a question about coping with the stress and financial obligations of starting college.
As always, if you have money-saving tips you'd like to share, send us an email at OklahomaMoneyMatters@ocap.org. If you’d like to join our mailing list for Financial Friday, please click the button below.
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We offer webinars for educators, students and parents on budgeting, saving, credit, and more. If you want to schedule a webinar, complete our workshop form and we'll contact you to plan the details.
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