There are three ways to pay for your child’s education. Before, During or After. Ideally you save funds before your child goes to school and then you have the assets available. If your income has increased you may be able to pay some or all of the cost with your current income. The last alternative is to borrow the cost of funding the education. Ideally, you save the money, have it available and pay for some or all of the cost with current earnings. Then, at the end of the education period, you have the savings for your use.