5 Real Teens Reveal: How I’m Planning to Pay for College


paying for collegeWhen you think about teenagers today, “forethought” and “practicality” probably aren’t the first words that come to mind.

But if recent research is any indication, adolescents may be a lot more prudent than we’ve been giving them credit for—especially when it comes to saving for college.

In fact, the 2014 Teen College Savings Barometer study found that as many as 93% of teens said stashing away cash for school was a priority for them—and 91% expected to cover at least some of their own higher-education costs.

Needless to say, the numbers piqued our interest. But we couldn’t help but wonder: How exactly do teens expect to pay their own way?

To find out, we asked three recent high school graduates and two current seniors to tell us how they’re going to swing the tuition and fees—and then tapped their parents to weigh in on their plans, as well. We also consulted David Blaylock, CFP®, a senior financial planner at LearnVest Planning Services, for his input on how prepared—or not—these future university students really might be.

  • Ashley Hill

    Great article! Teens truly have to partner with family (don’t leave out grandparents, aunts, and uncles!) to afford college. No parent should even contemplate taking out a second mortgage or dipping into retirement to pay for his or her child’s college tuition. Also, these conversations of financing college must start much earlier…before high school!