BUFFALO, N.Y. (WKBW) — September is College Savings Month — a time to reflect on how to best financially prepare for higher education.
"The topic of school is on everybody's minds," Sarah Blankenship, financial planner at Wilcox Financial Group, said. "We are talking to people constantly about how to pay off student loans."
Blankenship stressed the importance of starting to save money early — a financial tactic that some students are trying to practice.
"My parents were really good at teaching me early to save," Natalie Vandevoorde, a University at Buffalo student, said.
This open communication between parents and students is another important factor that Blankenship touched on.
"Parents and students need to be having conversations with each other," Blankenship said. "It's time for that adult conversation of 'this is what this looks like, and this is how this will impact your future.' "
Many University at Buffalo students wished they had access to more financial literary classes while in high school to better prepare them for their next steps.
"Going into it [college], I didn't know anything, and I still don't know that much," Mia Pinker, a student, said. "In high school they should have a class that teaches you about college, how to pay for it and how to take out loans."
Raven Barksdale, another student, agreed.
"When it comes to personal finances, like growing our own money, I think that it is a little underdeveloped," Barksdale said.
Blankenship mentioned that the type of college can play a role in tuition price, as well. Private or out-of-state colleges will typically cost more than a public or in-state college.
"I picked the cheapest school that fits all my needs," Barksdale said. "It's perfect because I'm really not paying what I could be paying somewhere else."
However, Blankenship said that college does not have to be for everybody.
"When I was younger, it was college or nothing ... now we see such a need for tradesman and skilled workers, so college doesn't have to be for every person."
However, she said those interested in college should look for ways their university can help financially and make the most of their experience.
"One of the best things that students can do is take advantage of scholarships ... Get really intentional about your studies. You can save yourself, your family, your parents a lot of money."
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