College Planning

NCBA recognizes that the future of any country belong to those that best educate their young people. As such, NCBA understands that Anguilla’s precious human resource can only be developed and fostered by ensuring that our young people has access to an affordable savings plan which offers them the opportunity to pursue their future career goals. It is also every parent’s dream for their children to be successful in every aspect of their life. However, it is also well known that tertiary education is not always affordable and as such some parents are unable to offer the gift of a college education to their children.

Below are some useful tips to help with college planning:

START SAVING EARLY

It is never too late to start saving for college. Start saving as early as you can for your child’s education because the earlier you start the more you would accumulate over time. To do this, consider investing in a college plan or an account that is specifically geared towards saving for tertiary education. With this in mind, NBCA has implemented the Young Investor’s Club and Education Savings Account which is geared towards affording parents the choice of saving monthly towards their children’s education. These accounts offer attractive interest rates and the flexibility of withdrawing funds to pay for their child’s education when the time comes.

OTHER WAYS TO SAVE

Upon closer examination of your expenses you may find that there are so many different ways that you can cut back which would allow you to save more towards your child’s or your own college fund. Cutting cost can come in many different forms. From simply cooking a meal as opposed to eating out you can begin to save.

APPLYING TO COLLEGES

Applying to college is a very exciting time for anyone, as they look forward to building the career of their choice. However, there are several steps that should be considered before an application is submitted to a University or College. The main goal should not only to be accepted by a University or College but to ensure that the correct course is selected.

  • There are many colleges that offer scholarships towards various aspects of college life, such as housing and meals, tuition and books. Therefore, when selecting a college ensure that you seek as much information you can about any grants/scholarships they may be offering.

  • Choosing whether or not to stay on campus is also another area in which you can also reduce your costs. Online studies may also prove to be more beneficial especially for persons who are already in the workforce.

  • A simply monthly budget will prevent you from overspending and will make paying the bills much easier. Only use a credit card for emergencies, and should not be used for entertainment. Sticking to your budget and remembering that little things add up fast will go a long way.

There are several facilities offered by NCBA that will assist you with being able to afford a tertiary education. Visit one of our Relationship Managers to learn more!

1 (264) 497-2101
1 (264) 497-2571
service@ncbal.com
St. Mary's Street, The Valley
Mon - Thur. 8 a.m. to 2 p.m.
Fri. 8 a.m. to 4 p.m.