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Jobs
Encourage your student to help pay for college the best that he/she can. Being in high school or college might be the perfect time to jump into the workforce. Getting and keeping a job not only helps your student earn money, but also teaches a lot about responsibility, areas of possible interest for the future, business skills and more.
Taxes
Having a student in college can be advantageous when it comes to your taxes. Check out the IRS Web site for more information about tax benefits for education.
Credit Cards
When sending your student off to college, you’ll want to ensure a way to take care of themselves in any financial emergency. Though you may be hesitant to consider it, a credit card can provide for quick money in the most desperate of situations. Discuss the importance of paying off debt on credit cards and explain the hazards involved if they miss payments or let interest accrue over time. Research your options carefully to find the best credit card for your student’s needs. For more information about credit and credit cards, check out the University of Illinois Extension Parent Smarts: Credit Information Series for Parents.
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