Education
How to Save Money for College
Everyone knows that college is an important step in the life of any person. It is one of the main goals, the accomplishment of which offers high hopes for a successful future.
However, it is not a big surprise that higher education comes at a considerable cost, with tuition fees getting higher each year.
Forward-looking parents who want to ensure future prosperity for their children usually start saving for college as soon as their babies have managed to make the first step.
Even more prudent parents are sure to have a definite plan of making savings for their offspring’s studies. Even if you haven’t started yet, and your child is about to mail out application letters, it is never too late.
Nevertheless, a good plan is always a beneficial strategy, especially in financial endeavours. Here are some tips on how to save money for college.
Set a Definite Goal
That is the place to start from. To plan something, you need to know what exactly you are planning for. Assess your needs and define what sum is required for them. Answer some questions:
- For how many children are you going to pay?
- How much time is left before they go to college?
- For how many years will they study?
- Are you going to fund all this period or only half?
- What college do you have in mind? Public, private, or community? In- or out-of-state?
- What are the projected expenses for accommodation and transportation?
Of course, some of these questions may have no definite answer so far. Thus, it would be prudent to have several possible scenarios. But in any case, at least approximate calculations can help to see the final picture and define the further plan. Conduct some research based on your goals derived from the answers and make use of online financial calculators to help you with estimates and budgeting.
Define the Way of Saving
When the definite goal is set and you know what sum (at least approximate) you’ll need to cover, you have to decide on the saving and investment vehicle that will help you achieve your objectives. There are a number of options, some of which offer rather attractive tax-saving benefits.
As some of the examples, you may use section 529 plans, Coverdell Education Savings Accounts (ESAs), Individual Development Accounts (IDAs), or taxable mutual fund or brokerage accounts. Each of them comes with its pros and cons, of course. Make some online research to learn more about each available option to decide which one is the most beneficial for you.
Start Saving
Of course, it is more than obvious that the earlier you start saving, the more money you will get at the end. But even if you started a bit late, you still have good chances with an advantageous plan. Just remember to keep discipline in setting aside some amount regularly.
Make it a part of your monthly household budget like utility bills or sign up for automated regular contributions to the savings account if needed. By the way, some savings plans may be open for other parties, so do not hesitate to involve other relatives or friends who want to contribute.
Consider cutting on your daily expenses. Analyze your family budget and think about where you could save more without creating a considerable strain on your everyday lives. Make use of all the possible bonuses, loyalty programs, and wage rises. Every penny matters for your precious child and their prospects in life.
Consider Financial Aid
Undoubtedly any assistance from outside will be useful, so consider all the possible options.
Scholarships and grants take the first position on the list. If your children do not qualify for need-based ones, pin your hopes on merit-based awards. Encourage your kids to strive for higher achievements in studies and extra-curricular activities and help them succeed at every step they take. Explain to them that this is a good helper in planning for their future, but do not get overly demanding though. Psychological traumas will not pave their way into college.
Student loans are another way of financial aid that you as a parent may get for your children’s college education. Start with filling out the Free Application for Federal Student Aid (FAFSA) at the Department of Education, which will consider if and how much federal aid you may qualify for.
If you have no other way out but for borrowing, try all the possible federal loan options in the first place. Banks and credit unions offer private student loans but usually with much higher rates. In any case, you should research and study this issue thoroughly and carefully before signing any deals, assessing the sum you can afford to borrow, and examining all the possible repayment options.
One more viable option to help you save for your children’s college is engaging them in the endeavour and encouraging them to get a part-time job. While still in high school and after having been admitted to a college, your kid can perform a myriad of jobs. They can work in a local library, store, or cafeteria, write Pro-papers for their peers, deliver mail or pizza, or even get employed as a junior assistant in your company.
In addition to helping you bridge the financial gap, such a move will teach them independence and responsibility from a young age. They should understand that investing in their future and relieving their parents from the burden at least partially is very honourable.
Bottom Line
Of course, college for your children demands a lot from the parents. It is not a surprise for anyone that ensuring your kids’ bright future is a costly pursuit. However, a security plan and your firm resolve can help you remove mountains. Plan and start saving as early as possible to get more opportunities for yourself and your children.
Education
Zurich-based Sparkli Raises $5m for Generative Learning Platform
By Dipo Olowookere
A Zurich-based anti-chatbot edtech firm, Sparkli, has secured about $5 million pre-seed round for its generative learning engine designed to turn screen time into active learning expeditions that foster agency, curiosity, and future-ready skills.
The pre-seed round will allow Sparkli to scale its generative learning engine and prepare for a private beta launch in January 2026. The company is currently validating its platform through a strategic pilot with one of the world’s largest private school groups.
This partnership provides Sparkli with a powerful testing ground across a network of more than 100 schools and over 100,000 students.
Sparkli transforms the curiosities of children into multi-disciplinary, real-life journeys that foster future-ready skills, including technology, design thinking, sustainability, financial literacy, entrepreneurship, emotional intelligence, and global awareness.
The company is already positioning itself to disrupt the $7 trillion global education market, a sector widely predicted to be one of the most significant use cases for artificial intelligence.
Its approach is shaped by three shifts essential for modern childhood education, a strategy designed to solve the ‘Agency and Curiosity Gap’. First, it forces a Velocity Shift by moving away from static curriculums to real-time relevance where children explore new topics the moment they emerge.
Second, it drives an Engagement Shift by replacing the dry ‘AI chatbot wall of text’ and passive screen time (watching videos, playing video games) with a multimodal playground of visuals, voice, and playable simulations. This turns consumption into active, gamified inquiry rooted in educational value.
Finally, Sparkli prioritizes a Skills Shift that focuses on capabilities such as creativity and complex problem solving rather than memorization.
“Our goal is to build agency in the next generation. Children learn by exploring, making choices, asking questions, and discovering what inspires them. Sparkli turns screen time into a place where curiosity grows rather than fades,” the chief executive of Sparkli, Mr Lax Poojary, said.
One of the funders, Lukas Weder of Founderful, said, “Sparkli represents a step change in how children can interact with knowledge.
“The team is applying high caliber engineering and thoughtful pedagogy to a space that desperately needs innovation. Their traction with schools shows a real appetite for tools that foster curiosity and agency rather than passive consumption.”
Education
NELFUND Disburses N161.97bn to 864,798 Students in 500 Days
By Adedapo Adesanya
The Nigerian Education Loan Fund (NELFUND) has disbursed N161.97 billion to 864,798 students nationwide since the inauguration of its student loan portal on July 17, 2024, as part of efforts to expand access to tertiary education.
The Managing Director of NELFUND, Mr Akintunde Sawyerr, while briefing journalists on the progress, impact and challenges of the scheme under the President Bola Tinubu’s Renewed Hope Agenda, said it was established to ensure that no Nigerian student was denied education because of financial constraints.
According to him, the fund has so far received 1,361,011 loan applications from students across the country.
He explained that out of the N161.97 billion disbursed, N89.94 billion was paid directly to 263 tertiary institutions to cover tuition and institutional charges, while N72.03 billion was paid to students as upkeep allowances.
“As at today, 1,361,011 applications have been received, 864,798 students have so far benefited from the loan scheme, and total disbursement stands at N161.97 billion.
“These includes N89.94 billion paid directly to 263 tertiary institutions for tuition and institutional fees, and N72.03 billion paid directly to students as upkeep allowances,” he said.
He noted that the figures represented tangible impact on students and families, describing them as evidence of barriers being removed and opportunities being created.
The NELFUND boss said the agency, had over the last year, embarked on extensive sensitisation across tertiary institutions to improve awareness and access to the scheme.
He added that the focus would now expand to parents, guardians, traditional rulers and faith-based institutions.
He said this new approach was to deepen public understanding and trust in the scheme.
“Over the last year, NELFUND has undertaken extensive sensitisation and engagement across tertiary institutions nationwide.
“We have worked directly with students, school authorities, and stakeholders to drive awareness, understanding, and access to the scheme.
“However, as we move into this new phase, we recognise that deepening impact requires broader engagement.
“So this year, our focus will expand to another very important group within the NELFUND ecosystem,” he said.
On upkeep payments, the managing director disclosed that a reconciliation exercise carried out after the 2024/2025 academic session revealed that 11,685 students had outstanding upkeep payments amounting to N927.98 million.
He clarified that the outstanding payments were not due to withheld funds or policy failure, but resulted from technical and operational issues.
He said such issues include network downtime, failed transactions and unvalidated bank account details.
He also said that the NELFUND management had approved a one-time reconciliation process to resolve the cases, including direct engagement with affected students.
He further said that a grace period for updating bank details, multi-layer validation and prompt payment upon verification had also been approved.
Responding to questions on sustainability, Mr Sawyerr said that the amended student loan law removal of guarantor requirements, inclusion of upkeep allowances and the ability to raise and invest funds were key elements supporting long-term sustainability.
He added that NELFUND was also exploring partnerships with philanthropists, corporate organisations and government agencies, citing a N20 billion collaboration with the Ministry of Education on Technical and Vocational Education and Training (TVET) as an example.
Also speaking, the Executive Director of Operations, NELFUND, Mr Mustapha Iyal, said that outstanding upkeep represented about 11,000 out of more than 400,000 beneficiaries in the 2024/2025 session.
Mr Iyal said NELFUND had contacted institutions to validate student data, noting that many of the issues arose from incorrect information supplied by applicants.
According to him, feedback has been received from over 100 institutions, and payment of the outstanding upkeep allowances is expected to commence shortly.
He also disclosed that applications for the 2025/2026 academic session began in November, 2025, with over 200 institutions submitting updated data.
He said about 280,000 applications had been received from those institutions, out of which loans had already been disbursed to more than 150,000 students.
He added that upkeep payments for the new session would begin in January, explaining that upkeep allowances were tied to active academic sessions and required fresh applications each session.
On loan repayment, Mr Iyal said repayment had already commenced, with some beneficiaries who had graduated and secured employment beginning to repay their loans.
Education
Edo Postpones School Resumption as Tension Rises
By Adedapo Adesanya
The Edo State Government has postponed the resumption date of all public and private schools in Edo Central Senatorial District as tension rose in the state.
The senatorial district, which is the region of Governor Monday Okpebholo, has witnessed a couple of security crises recently, including the arrest of over 50 students.
In a statement on Monday, the state Commissioner for Education, Mr Paddy Iyamu, said the postponement was until further notice, to enable the state government address prevailing exigencies and improve the welfare and safety of pupils.
“The new date of resumption will be duly communicated to the public in due course,” the Commissioner said.
“Parents, guardians, and all education stakeholders within Edo Central Senatorial District are kindly requested to take note of this development and comply accordingly.”
The development was after last Saturday’s peaceful protest over insecurity and kidnapping in Ekpoma, Esan West Local Government Area, which turned violent.
According to reports, certain actors hijacked the protest, blocked a major highway, disrupted commercial activities, and attacked traders at the livestock market, where goats were killed and cows beaten, scenes captured in viral videos.
The attackers also invaded and vandalised the palace of the Onojie of Ekpoma, Mr Zaiki Anthony Abumere II.
On Monday, the governor, accompanied by the state’s Commissioner of Police, Monday Agbonika, and others, visited the palace to assess the level of destruction.
Several vehicles, canopies, chairs, doors, and windows were damaged, while goods belonging to the monarch’s wife were also destroyed.
Describing the invasion as criminal and unacceptable, Mr Okpebholo said protests must never be used as a cover for lawlessness.
The governor disclosed that a security meeting had been held earlier with a strong focus on Edo Central, particularly the Ekpoma axis, noting that strategic, technology-driven security operations had been deployed.
On social media, a lot of Nigerians have condemned the actions of the government, saying innocent people have been arrested.
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