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18-year-olds starting college this month won't only bank all sorts of knowledge in the classroom, their new-found freedom will mean learning about personal finances, too.
USA Today reports this morning that many banks, in an effort to get students into the mode of building savings accounts, offer free savings accounts for college students. Lenders, like Sallie Mae are doing the same thing.
The businesses and lenders are making the move in hopes of building a relationship with students, long after they are done eating ramen noodles for dinner five nights a week.
The timing is great to do a local story on this topic:
— Is there a college in your area and if so, do local banks offer these kind of free-student accounts? If so, why did bank leaders decide to jump into this space?
— What rules should parents know about these accounts?
— Talk to a financial planner about how parents should talk to their kids about saving money during college. Is there a simple plan that they could follow, like suggesting to their teen to have money automatically drafted from their paycheck every two weeks, even if it's only $15 or $20?
— Why is learning responsible savings so important in college? See what a financial planner could tell you. Are there things that parents should do before kids get to college to have them prepared as far as finances are concerned?
18-year-olds starting college this month won't only bank all sorts of knowledge in the classroom, their new-found freedom will mean learning about personal finances, too.
USA Today reports this morning that many banks, in an effort to get students into the mode of building savings accounts, offer free savings accounts for college students. Lenders, like Sallie Mae are doing the same thing.
The businesses and lenders are making the move in hopes of building a relationship with students, long after they are done eating ramen noodles for dinner five nights a week.
The timing is great to do a local story on this topic:
— Is there a college in your area and if so, do local banks offer these kind of free-student accounts? If so, why did bank leaders decide to jump into this space?
— What rules should parents know about these accounts?
— Talk to a financial planner about how parents should talk to their kids about saving money during college. Is there a simple plan that they could follow, like suggesting to their teen to have money automatically drafted from their paycheck every two weeks, even if it's only $15 or $20?
— Why is learning responsible savings so important in college? See what a financial planner could tell you. Are there things that parents should do before kids get to college to have them prepared as far as finances are concerned?
