Elementary Grades Students:    

Do your best in school Read a lot Have fun learning! Explore jobs – check our Paws in Jobland at your school (your counselor has the codes to this on-line career investigation game) and Kids’ Zone at http://nces.ed.gov/nceskids if you like games as puzzles and math teasers

Parents:   

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Help your student develop an interest in reading – by reading to them and by demonstrating an interest in reading yourself… read in your spare time too. Check your child’s homework and follow his/her progress in school – Parent/Teacher Conferences, Report Cards, and Progress Reports Start saving for your child’s post secondary (college) education o Coverdell Education Savings Account – allows up to $2,000 a year to be put aside for a student’s education expenses (elementary, secondary, or college) – check out this IRS publication for more information http://www.irs.gov/publications/p970/ch07.html o Qualified Tuition Programs (QTPs; also known as 529 Plans) – this is a plan established by the state or school so that you can either prepay or save up to pay education related expenses – once in college you withdraw the money from the account to pay for your education – this money will not be taxed – find out more at this link for College Savings Plans: http://www.collegesavings.org/index.aspx - also ask your college of interest if they participate in the program o Student Loan Interest Deduction – you can take a tax deduction for the interest paid on student loans that you took out for yourself, your spouse, or your dependent – this benefit applies to all loans (not just federal student loans) used to pay for higher education expenses – the maximum deduction is $2,500 a year o Using IRA withdrawals for college costs – you may withdraw from an IRA to pay higher education expenses for yourself, your spouse, your child, or your grandchild – you will owe federal income tax on the amount withdrawn, but won’t be subject to the early withdrawal penalty – for more information check the IRS website about using IRA withdrawals for college costs: http://www.irs.gov/publications/p970/ch09.htm Read “Saving Early – Saving Smart” – this handout explains why it’s never too early to save money for college and how to use such resources as college savings plans and federal student aid. – check out this website: http://studentaid.ed.gov/sites/default/files/saving-early.pdf Check out “Helping Your Child Become a Reader” to learn how to create a foundation for learning for children up to age 6. This publication includes activities that make learning

experiences out of daily routines and provides a list of resources for parents. – check out this website: http://www2.ed.gov/parents/academic/help/reader/index.html http://StudentAid.Ed.Gov/Prepare -for-college/checklists/ElementarySchool