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Cornerstone Blog

Set Your Financial Journey

Savings 101: Paying for college

  • June 30,2026
  • Less than a two minute read

Whether you’re saving for college for yourself or for your kids, starting early and having a solid savings strategy is key to reaching your goals and avoiding unnecessary debt.

College can be expensive, but with the right planning and strategies, you can make your dreams of higher education a reality.

We’ve got your back with a few simple ways to help pay for college expenses:

  1. Calculate costs and create a budget – Saving for college requires advanced planning and a clear understanding of what your education will cost. Start by researching tuition for the schools you’re considering and determine how long it will take to complete your degree. Once you have those details, use our College Savings Calculator to estimate your monthly savings and projected returns. This will help you see if you’re on track, or what adjustments you need to make to reach your goal.
  2. Fill out the FAFSA – The Free Application for Federal Student Aid (FAFSA) is your gateway to federal, state and school-based financial aid. By completing the FAFSA, you unlock access to grants and scholarships (which don’t need to be repaid), federal student loans and work-study opportunities. The sooner you apply, the better your chances of securing aid. Learn more about the FAFSA here.
  3. Factor in all costs – Tuition is just one piece of the puzzle. To avoid financial surprises, account for all college expenses, including housing, meals, textbooks, parking passes and more. Planning for these costs upfront will help you stay financially prepared.
  4. Apply for scholarships – Scholarships are a great way to reduce college costs, and they’re available from businesses, colleges, community organizations and more. For example, at Abound, we’re proud to offer the Roush Scholarship1, which funds 8 scholarships of $2,5000 each (renewable for up to four years2) for college-bound seniors in our service area3. Take time to search for scholarships in your area—every little bit helps!

Need extra support? We’ve got you covered. Our Personal Loans4 provide extra financial support with a fixed rate for stability and no collateral required. Our Home Equity Lines of Credit5 (HELOC) lets you tap into your home’s equity to cover education costs. With the flexibility of a HELOC, you can access funds as needed to keep life moving forward.

Interested in a Personal Loan or HELOC? Visit your local branch today! Our team is ready to help you find the best fit for your needs.

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1By submitting applications, students and their parents/legal guardian grant the Abound Credit Union the right to repurpose their content in any and all of our affiliate websites, including but not limited to, social media channels, print, video and other media; and further agree we can include their likeliness (their profile photograph/picture) without payment or any other consideration. The following persons are NOT eligible to enter the Howard Roush Memorial Scholarship Program: Abound Federal Credit Union employees, affiliates, subsidiaries, advertising/promotional agencies, volunteers and immediate family members (spouse, parents, siblings and children) of volunteers and staff.
2Subject to renewal criteria.
3Please check with your high school career/guidance counselor to confirm your school’s location is in the Abound Credit Union service area.
4All loans are subject to credit approval.
5Rates and terms are subject to credit approval. Eligibility open to Kentucky or Indiana residents. Subject to $10 membership fee, if not already a Member. Subject to $249 application fee.