Live at home. Living at home versus on campus provides another great opportunity to save money on food and lodging if the school is nearby. Living at home can also give you and your child a few more years of relational time. While setting boundaries during this time is important (both for your sake and for your child’s), take advantage of that extra few years together. They will be out on their own soon enough. Helping them wisely grow and mature can pay off big time as they move into adulthood.

Free tuition? Yes please! Depending on your child’s natural gifts and talents, there are quite a few study programs that attract students by offering them FREE tuition. Fields such as math, engineering, certain art and teaching programs offer not only tuition free education, but have great paid internship and work placement opportunities.   Search “best paying college majors” to see how yours compares with other degree programs.

Keeping the faith. There are quite a few faith-based schools (Moody Bible Institute for one) that are funded by donations. Upon acceptance, students are responsible for room and board, insurance, meals and other fees, but tuition is covered. Research those schools to see if there is a match for your child’s interests. Approach your home church about scholarships, especially for students who choose to stay in the religious vocation (youth pastor, missions pastor, assistant pastor, worship leader, etc.).  

There is something special about seeing our children spread their wings and fly. In this important season of life, when key choices are made, we need to seek wisdom. Peer pressure, hectic schedules, social norms and about education and last but not least, financial pressures, may silence the quiet voice of reason. Just remember, as you seek God’s wisdom, His direction and His plan, He will reveal it to you and to your child. After all He did promise that if we seek, we will find!

Megan is one of the new additions to the Finicity (provider of Mvelopes and Money4Life Coaching) team. She comes with over 13 years of experience in the Biblical Finances area. Her content has been published by Money Matters, Do Well and Lifeway's More than Living. She is a mom of two young boys, and lives with her husband David in the Atlanta area.

Publication date: April 17, 2013