What goes into a college budget? Since higher education is more costly than ever, tuition savings is the biggest concern for most parents and students. However, tuition isn’t the only area where families can save money. With smarter banking, even budgeting for smaller college expenses (groceries, textbooks, gas, etc.) can add up to big savings. But which account is best for you?

 

Demand Deposit Account (DDA)

A DDA with Lineage is a great starting point for students to manage daily purchases while living away from home. Think of a DDA as your standard checking account—you can withdraw, set up auto-pay on bills, and track your balance from the Lineage app or website. For students, a DDA takes the worry out of carrying cash for a night out or staying on top of recurring bills. Plus, parents can also make immediate deposits for emergencies or to avoid accidental fees.

 

Certificate of Deposit (CD)

What about parents who are planning ahead for college? On top of using a DDA to track and manage spending, families can also use a CD to accrue interest months or even years before move-in day. With Lineage Bank, you can get attractive rates that will help you save for your kids’ college expenses.

 

Whether your student is starting college in weeks or years, Lineage understands the importance of rooting your family in a bank you can trust. Visit us online at lineagebank.com or at a local branch to learn more.

Lineage Bank is a developing, traditional community bank located in Franklin, Tennessee, and is an Equal Housing Lender and Member FDIC. Lineage Bank is part of the Lineage Financial Network, a bank holding company that empowers community banks with the technology and local customer focus to create a unique banking experience. Lineage Financial Network is headquartered in Franklin, Tennessee, and was founded in 2020.