College is one of life’s biggest financial investments—and whether your child is heading there next fall or still years away, smart planning makes all the difference. Mercer Savings Bank is here to help you make confident financial choices now, so you and your student are ready when the time comes.
For Parents of High School Seniors or College Students
If your child is getting ready to graduate or already attending college, here are some timely reminders to stay on track financially:
Start with the FAFSA
The Free Application for Federal Student Aid (FAFSA) is your first step in accessing grants, scholarships, and federal loans. Even if you’re not sure your family will qualify, it’s worth completing—you might be surprised by what your student is eligible for.
Apply for Local Scholarships
Don’t overlook the many local scholarships and grants available through organizations right here in your community. Foundations like the Mercer County Civic Foundation, Darke County Foundation, or the Auglaize County Education Alliance often manage dozens of scholarship opportunities for local students. These dollars can make a big impact and often have smaller applicant pools.
Encourage your student to:
- Check with their guidance counselor
- Visit local community foundation websites
- Apply early and often!
Set Up Smart Spending Tools
As your student prepares for more independence, help them establish good habits with a checking or savings account built for their needs.
Mercer Savings offers:
- Free Mastercard® debit cards
- Online and mobile banking
- Tap to Pay for secure, easy purchases
Whether they’re learning to manage lunch money or budgeting for textbooks, these tools help build confidence and responsibility.
Explore Flexible Lending Options
If you’re exploring ways to bridge the gap in college funding, Mercer Savings can help. We offer lending solutions like a home equity line of credit (HELOC) that may provide more favorable rates than traditional student loans. Talk to a local lender to understand your options—we’re happy to help you make the right choice for your family.
If your child is younger: Start saving now—because time is on your side
Starting early is one of the most powerful things you can do to make college or career training more affordable in the future. When you begin saving while your child is still young, you give those funds the opportunity to snowball through time and compound growth—meaning even small contributions can grow into something significant by the time they graduate high school.
Here are some smart first steps:
- Open an education savings account. For Ohio families, the state’s 529 Plan (Ohio’s CollegeAdvantage) is a great tool that offers tax advantages, flexible use, and a variety of investment options. Learn more at Ohio’s 529 Plan »
- Make it a habit. Set up monthly or bi-weekly contributions, even if it’s just $10 or $20. Over time, consistent saving can build real momentum.
- Turn gifts into growth. Birthdays, holidays, and other celebrations are perfect opportunities for friends and family to contribute to your child’s future. Instead of toys or clothes that they’ll outgrow, suggest contributions to the 529 plan.
- Think beyond college. Ohio’s 529 Plan isn’t just for 4-year universities. It can be used for trade schools, certificate programs, apprenticeships, and even certain K–12 tuition expenses.
- Revisit your plan regularly. Each year, review your savings goals, check progress, and adjust your contribution amount if possible. As your child grows, so can your plan.
📈 Remember: Time is your greatest asset. Starting early gives you more flexibility and lowers the pressure to save large amounts later. A small seed now can grow into a meaningful gift for your child’s future.
Why Mercer Savings?
We’ve been helping local families make smart financial choices for more than 135 years. When you bank with us, you get:
- Personal service from people who care
- Trusted tools and lending products
- A local team committed to your success
Final Thoughts: Give the Gift of Smart Planning
College is a major milestone, but it doesn’t have to come with major stress. With thoughtful budgeting, smart tools, and local support from Mercer Savings Bank, you can help your student head into the future with confidence.
Need help setting up a student account or exploring lending options? Stop by your nearest Mercer Savings Bank location—we’d love to talk with you.
