Senate Cents: A Financial Wellness Blog

Share:

Planning Ahead: Smart Ways to Save for College

Published: August 27, 2025

Planning Ahead: Smart Ways to Save for College

College Savings Strategies: Building a Smarter Plan

Wednesday, September 3 | 6:00 PM ET
Join us for a live webinar and learn smart strategies to plan and save for your child’s education.

Register Now

September is College Savings Month, making it the perfect time to start planning for your child’s education—or review the plan you already have in place. Whether your child is years away from college or high school graduation is right around the corner, taking proactive steps now can help reduce future financial stress and open the door to more opportunities.

Why Start Saving Now

College costs continue to rise faster than inflation, and many families rely heavily on student loans to bridge the gap. Starting early—even with small, consistent contributions—can make a big impact over time thanks to compounding growth. Every dollar saved today helps reduce future borrowing and sets your student up for a stronger financial future.

Explore Your Savings Options

There’s no one-size-fits-all approach to saving for education. Fortunately, there are several tools available to help you build a plan that fits your family’s needs:

  • 529 College Savings Plans – Tax-advantaged accounts with flexible options for tuition, room and board, books, and more
  • Coverdell ESAs – Savings designed for both K–12 and higher education expenses
  • Custodial Accounts – Flexible savings for expenses not covered by 529 plans
  • Roth IRAs – Retirement-focused accounts that can also fund qualified education expenses
  • Gifting Strategies – Invite family and friends to contribute to your student’s future

Small Steps, Big Results

Even modest contributions can add up quickly. For example, if five family members give just $20 each year for 10 years, that’s $1,000 saved—before factoring in potential growth. With options like personalized 529 gift pages, it’s easier than ever to involve friends and family in your savings journey.

Join Our Upcoming Webinar

College Savings Strategies: Building a Smarter Plan
Date: Wednesday, September 3
Time: 6:00 PM ET

Join us for a special webinar in honor of College Savings Month! Learn about smart strategies to plan and save for your child’s education. We’ll cover 529 plans, Coverdell ESAs, custodial accounts, Roth IRAs, and gifting options to help you maximize savings and make confident choices for your family’s future.

Register Now

Get Started Today

Want to estimate future costs and set personalized goals before the webinar? Try our interactive Cost of College Coach, a helpful tool designed to guide your savings strategy.

Talk to a Financial Advisor

Have questions about creating a personalized college savings plan? USSFCU partners with Michael Schimmel from Fellows Financial Group to help members reach their financial goals.

Visit ussfcu.org/fas to schedule an appointment with Michael today.

Article content is provided for information purposes only. 

View all posts

Members' Voice Testimonials

This credit union is the best, I love the customer service and you can't beat the interest rates. I'm happy to be a member of this great credit union.

- James · Locust Grove, GA

The branch manager introduced herself and was extremely helpful. She stated that if there is anything we ever need to please let her know. Very positive experience!

- Larry · Cumberland, MD

Greta was absolutely amazing - as always. She makes me and my parents feel valued and supported. We are forever grateful. [The Credit Union] has been hugely supportive over many years. And we feel known and cared for.

- Eliza · Washington, DC

Long as I have been with the credit union, I haven't had any problems. I also like the protection on my account.

- Charles · Upper Marlboro, MD

My overall experience at the credit union was exceptional. The staff was hospitable offering water, my service was timely and professional and the office was well lit and clean.

- Denise · Washington, DC

As a member for more than 40 years, i have always had great service from the USSFCU and know that they stand behind their great reputation.

- David · Silver Spring, MD

A top rate Credit Union, [I'm] privileged to be part of! Thank you for all you do for our family! USSFCU Credit Union was able to resolve our financial situation - vehicle, personal loans, customer service/recommendations, within 6 months. We belonged to another credit union for over 20 years, with results not even close to comparison. We switched ...

- Manuel · Bowie, MD

Your people and products are amazing. The recent [online banking] overhaul is phenomenal. [I've] been electronic banking since Tele action phone banking - paying bills with my push button landline decades ago. USSFCU is light years ahead of everyone else in terms of ease of use and client experience!

- Misty · Brookings, OR

I have been a member for more than 30 years. I no longer reside in the DC area but continue to bank with USSFCU because of the ease and the customer service.

- Tamra · Denver, CO

I have been a member for over 50 years, and I have always gotten good service with loans, when I had to have service at a branch, and when I needed to have money sent to me from my savings account. The personnel have always been friendly and treated me with respect.

- John · Fort Washington, MD

I especially appreciate being able to quickly speak with someone (not a robot) and that person has always been knowledgeable and helpful.

- Bernard · Richmond, VA

Excellent customer service streamlined and transparent process. The representatives are efficient, knowledgeable, and understanding of the type of loans offered by Credit Union.

- Erwin · Ellicott City, MD

The USSFCU behaves as a credit union ought to behave. The staff works with and for the members, not for a corporate board. Interest rates for a car loan, a home improvement loan, and a mortgage are low and terms are transparent.

- Ruth · Takoma Park, MD

Staff are courteous and friendly to work with. Very knowledgeable about services and products offered or available. Excellent follow-up with customers.

- Jacquelyn · Sanford, FL

I have appreciated USSFCU services for many years since I left my work on Capitol Hill. I have appreciated the occasional webinars on purchasing a home or retirement planning.

- Jamie · Washington, DC

I have been a member since 2006, and have always appreciated the customer service response to any concern or query. In addition, as I have traveled extensively, USSFCU has provided support and access.

- Kathleen · Ukiah, CA

I've had a credit union account for decades, even though I no longer work on Capitol Hill. I now have two accounts. I've been able to do all of our banking remotely, by app or by phone.

- Richard · Washington, DC

I have been a USSFCU member for almost 20 years. There is nowhere else I want my money to be. I always receive excellent service.

- Nicole · Alexandria, VA

I deeply appreciate the stellar service, the proficiency, the professionalism, and the kindness. I am truly honored and grateful to bank with a financial institution that treats customers like family.

- Angela · Alexandria, VA

Read More testimonials.