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Saving for College – North Carolina

Personal Finances 3 min read

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Paying for college begins well before your child ever sets foot on campus. Saving for college from day one is an effective way of combating the rising costs of today’s colleges and universities. There are nearly 200 colleges in North Carolina and with our numerous branch locations, First Bank helps students from across the state afford a college education.

Save for College with First Bank

First Bank offers several options for college saving for children in North Carolina.

  • MyFirst Savings is a savings account for children under the age of 18. Set up the account when your child is young and begin funding it. You can deposit birthday money from relatives, inheritances or money your child earns from working a job in high school. The account earns interest on any balance so you’ll begin growing your money from day one.
  • Everywhere Savings is a basic savings account that begins earning interest with any balance.
  • Campus Checking is a convenient account for students heading into or already attending college, with no monthly fees*.
  • Secured Card allows your student to start to safely build a credit history before going or while away at school.
  • Our HELOC leverages the equity you have in your home for large purchases and can even be used for college tuition.

Getting an early start is the key to saving up for college but it’s never too late to start. If you begin contributing to a savings account now, your child could have the necessary funds to get them through college.

Student loan debt can be a long-term burden for you or your new college graduate. Begin building a bridge to your child’s future today with a savings account from a North Carolina First Bank.

*Account holders may avoid the Monthly Maintenance Fee by meeting any of the requirements listed in the Keep it Fee FreeTM section of the account summary table for their account type. Other account service fees may apply as described in the Account Services Fee Schedule available on our website at fees or at your local branch. Federal regulations limit withdrawals or preauthorized transfers to six (6) per month, including checks, drafts, online transfers, telephone transfers and debit card purchases. You may conduct an unlimited number of withdrawals at the ATM, in person at a branch, or by mail when the check is mailed to you. Savings Account customer can make two free withdrawals per month. There is a $2 fee for each additional withdrawal. Money Market customers can make six (6) free withdrawals per month. For each excessive transaction during a statement cycle, there is a fee of $15. While First Bank does not charge for mobile banking, your mobile carrier’s message and data rates may apply.

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College Simply: http://www.collegesimply.com/colleges/north-carolina/

Investopedia: http://www.investopedia.com/terms/c/certificateofdeposit.asp

Investopedia: http://www.investopedia.com/terms/i/ira.asp?lgl=rira-layout

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