written by: Sarah Arnette•edited by: Elizabeth Wistrom•updated: 8/13/2010
Special gifts toward college tuition can help make the college dreams of a child easier to realize. These gifts do not have to be large to make a huge impact on the chances of a child going to college.
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College is very expensive. It can cost a small fortune to send a child to college. Saving money ahead of time is a great way to make college more affordable. It is not only the parents and the child who should attempt to save money for college, but the extended family and friends of the family can help by giving special gifts for college tuition. This can be done throughout the child's life and help him or her achieve the goals and dreams that they have for their lives. While the college tuition gift is not as fun as a game, it can be far more beneficial.
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Tuition Gifts for Young Children
When a person thinks of gifts for children, they often think of toys and games. However, helping a child reach his or her goals in life is a great gift. What is a good idea for a child gift is to encourage the parents to open up a savings account for the child's college fund. This gives a person the option of putting a small amount of money into the savings account and purchasing a small game or toy for the child at the same time. These special gifts for college tuition can easily add up to be a large gift in the future. For this option, a person will want to deposit ten or twenty dollars into the savings account and then purchase a small game or toy for ten dollars or so. It is important to remember that the price of the toy or game is not important, but simply that there is a gift being given to the kid.
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Tweens often fail to look at the future. They often see the here and now. This is not to say that they will not be grateful for gifts toward their tuition though. As a child ages, the amount of money that can be given toward a person's tuition can be higher with less emphasis on the actual presents that a child might receive. The big gifts here are usually group gifts of certificates of deposit that are set to mature at the end of high school for the child. These gifts rack up good interest rates and have a set date for pay out.
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The teenager is getting ready for college. It is their main focus. They hear about it at school, from their friends and family. They are eager to have any help that they can possibly get for their college dreams. In the child's early teenage years, certificates of deposit are appropriate. If the child is closer to college age, than checks that can be deposited directly into a savings account and applied to the child's tuition are more acceptable. At this point, the entire gift can go directly to the child's tuition
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Tuition Gifts for College Students
Just because the child has entered college does not mean that the tuition gifts need to be stopped or should be stopped. Instead the continuation of the tuition gifts should be encouraged. Now that the child is in college, they are learning the value of the dollar and the necessity of saving money. Now gifts toward their tuition are most appreciated. If by some miracle, the tuition is completely paid for, these gifts can then go for the living expenses of the student.
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What is a Gift Worth
No one should ever tell you what to spend as a gift for a child. This is especially true for those who are offering to give gifts to help a child's tuition expenses. Any little bit helps. Lower dollar gifts given early in a child's life will add up to a larger amount as the child nears college age. Higher dollar gifts are great for the immediate expenses of college. No dollar amount should ever be considered too low or not enough to give though. If you want to give more, feel free, but do not be ashamed or assume that the five dollar gift is not enough when giving special gifts for college tuition.