Paying For School

Chris is ready to go back to college, but first he needs Dave to tell him how to pay for it.

QUESTION: Chris is 19 and working full-time. He has plans to return to school and wants to know how to pay for schooling other than scholarships. What can he do now to save or invest money?

ANSWER: You really want to spend some time looking for scholarship money. Little things like the Jaycees or some smaller ones are great. If you apply for 100 and get turned down by all but three, and those three give you $10,000, that’s a pretty good week. You are going to be your best investment at this point, not a money market account or mutual fund. Work, work, work and save, save, save. Also, think about working at UPS, where you would load boxes at night and they pay tuition. That works in some areas at some colleges.