This article is written by Keilah Keiser with a US-based perspective. All content provided is for informational purposes only. Check with academic institutions in your area before making choices suggested in this article.
As a parent, you may start preparing for your child’s college education years in advance, and in some cases, even before they are born. With the price tag of higher education changing year over year, so does a parents strategy in saving for tuition.
Fidelity Investments has tried to clarify college savings with a new rule of thumb: Multiply your child’s age by $2,000 to stay on track to cover half the average cost of a four-year, public university.
This plan may be well and good for the average family, but it does not take into account the additional financial responsibilities parents hold when their child has a disability.
The drawback for students with disabilities
Unfortunately, some of the most common financial planning strategies, such as saving money in the child’s name, can jeopardize needs-based benefits. As a result, many families have sought out strategies that avoid such pitfalls, but in the process, they may limit their ability to save tax efficiently for their child’s future. This is where scholarships come in, to provide financial relief that many families so desperately need.
As more organizations and advocacy groups work to understand disabilities, the more opportunities (financial and situational) become available for individuals. While a disability may make things more difficult, it shouldn’t stand in the way of obtaining a college degree.
Solutions are available for students with disabilities
These days colleges have become more welcoming and assistive to students with disabilities offering a wealth of resources to help students reach their potential regardless of disability, but where does one start in the financial planning process?
To help parents and students better plan for their child’s college transition, Nitro College has put together a wide array of resources and scholarship opportunities available specifically for students with disabilities.
This interactive guide offers over 100 scholarship opportunities and allows you to apply filters to personalize the
scholarship experience and ultimately find the best fit for your disability and educational goals.
Related articles on this site
- 3 Secrets to Building a Financially Stable Future for Your Child with Special Needs
- Preparing for Higher Education: A Guide for Students with Disabilities
Keilah Keiser is a Content Marketing Specialist based in San Diego. With a background in higher education marketing and writing, she specializes in developing and promoting content that drives growth for her clients.