Is College Still an Option?
Has times ever been this difficult? For those born well after the Great Depression, the current economic recession is probably as low as it has ever been.
From upper middle-class families who once gave to the needy now receiving free meals to single mothers choosing welfare over work because the cost of transportation and child care would be more than their paycheck, the recession is forcing many out of their normal lifestyles and forcing them to reassess their financial future.
With families struggling to stay in their homes, many parents have had to make the difficult decisions of delaying their child’s college education or forcing them to narrow their choices to those that fit into their current budget.
However, what about the parents that are determined to send their child to college despite their economic circumstances? Where should they go to began preparing in advance for their child’s higher learning?
Alex Brown has recently launched a website, Zadoodie.com, which will assist children in finding funds for their college education.
“Many children and young adults are faced with the problem of not having enough money to attend or complete college,” said Brown. “The earlier you start to save the less you have to worry about when the time comes to pay for a college education.”
Zadoodie.com is designed to help parents begin saving funds early in their child’s maturation so they can avoid the economic uncertainties that many are facing today. The website is working with a United States government 529 college savings plan and offers information to parents who are unfamiliar with the 529 college savings plan and/or have not set up an account.
According to the Securities and Exchange Commission (SEC) government website, “A 529 plan is a tax-advantaged savings plan designed to encourage saving for future college costs.” Legally known as “qualified tuition plans,” 529 plans are funded by states, state agencies, or educational agencies and are commissioned by Section 529 of the Internal Revenue Code.
The two types of 529 plans are pre-paid tuition plans and college savings plans. Each state, including the District of Columbia, commissions a 529 plan. Furthermore, some private institutions of higher learning sponsor a pre-paid 529 plan.
Furthermore, loved-ones can donate funds to a student’s personal account by visiting Zadoodie.com, who in turn transfers the money to the student’s fund. The website also allows members to earn 10 dollars annually for each new member they bring to the site. Furthermore, Zadoodie.com shares up to 50% of the adverting revenue from the site with active members and offers weekly scholarships to those members.
Before launching the site, Zadoodie.com had already helped students earn up to $1,000 for their college education.
In spite of the current economic conditions, it is still imperative that the leaders of tomorrow be offered the same educational advantages of previous generations, and that journey for knowledge begins with the financial preparation of their elders. As Malcolm X said, “Education is our passport to the future, for tomorrow belongs to the people who prepare for it today.”
Miskel is a writer for Regal Black Men’s Magazine.