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
FG, States Hail Dangote’s N1trn Scholarship Scheme for 1.3 million Students
By Modupe Gbadeyanka
The N1 trillion scholarship programme of the Aliko Dangote Foundation (ADF) for about 1.3 million Nigerian students has been applauded by the federal government, the state governments and the others.
The scheme was designed to expand access to education and promote academic excellence across Nigeria. Starting in 2026, the initiative will support over 1.3 million students from all 774 local government areas, with N100 billion committed annually for 10 years.
It targets Nigeria’s most vulnerable learners and is structured into three categories: Aliko Dangote STEM Scholars – 30,000 undergraduates in public universities and polytechnics will receive tuition support of up to ₦600,000 per year; Aliko Dangote Technical Scholars – 5,000 TVET trainees will get essential study materials and technical tools; MHF Dangote Secondary School Girls Scholars – 10,000 girls in public schools will receive uniforms, books, and learning supplies, prioritizing states with high out-of-school rates.
The programme would be implemented in partnership with NELFUND, JAMB, NIMC, NUC, NBTE, WAEC, and NECO. It would be based on merit, with beneficiaries chosen through a fully digital system.
Vice President Kashim Shettima praised the organisation for the intervention, saying it demonstrates the critical role of private-sector actors in national development.
He noted that Nigeria’s demographic growth makes urgent investment in education indispensable, warning that “a population becomes a liability only when it is uneducated.”
“Aliko Dangote, through his far-reaching philanthropy, has set in motion the single largest private-sector education support intervention in the history of this country. What he has done here today is a lesson to each of us. This is nation-building in its purest form,” Mr Shettima said.
The Governor of Lagos State, Mr Babajide Sanwo-Olu, speaking on behalf of the 36 state governors, also commended the initiative and pledged the governors’ full support.
The Minister of Education, Mr Tunji Alausa, described the initiative as “pure human capital development,” saying it aligns with the President Bola Tinubu administration’s education sector renewal plan of transforming Nigeria from resource-based economy to a knowledge-based economy and is significant because every local government area will benefit.
He said by the end of the first decade of the execution of the scholarship programme, it is estimated that over 170,000 girl-child would have gone to school.
On his part, Mr Dangote said the intervention is aimed at Nigeria’s most vulnerable learners, noting that financial hardship, not lack of talent, is the primary reason many drop out of school.
“This is not only charity. This is a strategic investment in Nigeria’s future. Every child we keep in school strengthens our economy. Every student we support reduces inequality. Every scholar we empower becomes a future contributor to national development.
“Our young people are not asking for handouts. They are asking for opportunities. They are asking for a chance to learn, to grow, to compete and to succeed. And we believe they deserve that chance,” he stated.
“No young person should have their future cut short because of financial hardship. We are stepping forward to ensure students stay in school and pursue their ambitions.
“This initiative is more than financial aid—it is an investment in human capital, with ripple effects on economies, societies, and future generations. When a student gets a scholarship, entire communities stand to benefit,” the business mogul added.
Education
Airtel Africa Foundation Opens Scholarship Portal for Nigerian Undergraduates
By Modupe Gbadeyanka
Entries for the Undergraduate Tech Scholarship in Nigeria by Airtel Africa Foundation have opened and applicants can register via candidate.scholastica.ng/schemes/airtelfellowship2025.
This programme forms part of the foundation’s F.E.E.D. agenda, which promotes Financial Empowerment, Education, Environmental Protection, and Digital Inclusion, with a focus on creating pathways for talented young people who face financial barriers.
The scheme, according to a statement from the not-for-profit organisation, provides full tuition, accommodation support, and essential study materials for 100-level students with strong academic potential.
Applications are open to students pursuing courses such as Information Technology, Computer Science, Software Engineering, Data Science, Cyber Security, Artificial Intelligence, and other ICT-related disciplines at participating universities: University of Lagos, University of Nigeria Nsukka, Ahmadu Bello University, University of Benin, Obafemi Awolowo University, University of Ilorin, and Tai Solarin University of Education.
Applicants must be enrolled in 100-level, have scored at least 230 in JAMB, and hold a minimum of five credits in WAEC, including English and Mathematics, in a single sitting.
Required documents include Joint Admissions and Matriculation Board (JAMB) results, university admission letter, West African Examination Council (WAEC) certificate, student identity card, and academic transcript or university results.
Qualified students across the listed institutions have been encouraged to apply and position themselves for a stronger start in the technology sector.
the chairman of Airtel Africa Foundation, Mr Segun Ogunsanya, said the scholarship demonstrates the organisation’s commitment to nurturing Africa’s next generation of digital leaders.
“Young Africans are brimming with talent and ambition. What many need is a fair chance to pursue their education without financial pressure.
“This scholarship reflects our belief that investing in their growth will strengthen communities, empower families, and expand the continent’s digital future,” the former chief executive of Airtel Africa Plc, noted.
On his part, the chief executive of Airtel Nigeria, Mr Dinesh Balsingh, said, “Education is one of the most powerful tools for national development.
“As an organisation, Airtel is determined to build a platform for aspiring young Nigerians to learn, innovate and lead in the country’s expanding technology landscape.”
Education
Summit University Gets Approval to Operate Campus FM Radio Station
By Aduragbemi Omiyale
Approval has been given to Summit University, Offa, Kwara, to operate a Campus FM Radio State, the chancellor of the higher institution of learning, Mr Sulaiman Adebola Adegunwa, said.
Speaking at the combined 5th and 6th convocation ceremony of the school at the Alhaja Adiat Abegbe Makanjuola Lecture Theatre, Mr Adegunwa, who doubles as the chairman of Rite Foods Limited, disclosed that the “notification was received a few days ago.”
“This development will help us reach our community more effectively and position the university as a champion of the knowledge economy.
“It will empower us to combat knowledge, poverty and the rising challenge of misinformation in society,” he noted.
He also identified investment in quality education as a catalyst for sustainable socio-economic development, adding that the dedication and financial commitment of stakeholders have continued to strengthen the university’s foundation and growth trajectory.
He appealed to well-meaning individuals to support the institution in its drive for sustainable development.
“This event marks a key milestone for our university. It honours our graduates and celebrates our shared success. An investment in knowledge pays the best dividend. The journey we have embarked upon with Summit University stands as one of the most rewarding investments.
“Our dividend from this investment is not only for today; it is also for posterity. Let us join hands to lift Summit University high, open doors to quality education, and change the world for the better,” he said.
Reflecting on the institution’s progress, the chancellor noted that the school has experienced remarkable growth since he assumed office as the pioneer chancellor in December 2023.
“Since the last convocation, undergraduate programmes have increased from eight to 16. Additionally, six academic programmes recently underwent reaccreditation, and full accreditation was secured from the National Universities Commission (NUC).
“I commend the university management, governing council, and board of trustees. The growth we see today is a testament to your hard work and strategic planning. Your commitment has strengthened the foundation of this university,” he said.
Mr Adegunwa highlighted the significant infrastructural advancement that had taken place in the University since its last convocation ceremony in 2023, adding that foundation for four major building was laid and one was already completed and ready for use while two were nearing completion.
“At this point, I sincerely appreciate Mosun Belo-Olusoga and other donors whose support continues to strengthen this university. Your generosity is a catalyst for our progress. May Almighty Allah bless you abundantly,” he said, revealing that preparations were underway for the verification of the university’s resources for new programmes in the College of Law and the College of Health Sciences.
“All documentation and agreements have been concluded, and we are hopeful that by the next convocation, both colleges will be fully operational,” he disclosed.
At the convocation ceremony, the school conferred honorary doctorate degrees (Honoris Causa) on Aderemi Muyideen Makanjuola and Lateefat Olufunke Gbajabiamila, as well as a posthumous honorary doctorate degree in Business Administration on the late Tiamiyu Adebisi Olatinwo, among other awardees.
In his remarks, the Vice Chancellor and Chief Academic Officer, Prof. Abiodun Musa Aibinu expressed appreciation to the Chancellor for donating the ongoing Senate Building project, which he said is now 30 per cent completed, noting that upon completion, the structure would significantly enhance the university’s infrastructure.
He announced that a total of 319 students graduated: 26 with first-class honours, 164 with second-class upper division, 108 with second-class lower division, 25 with third-class, and one with a pass.
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