When your child or grandchild heads off to college, they’re not just going to learn in the classroom.
They’re about to get a crash course in managing money—and the lessons they learn now will follow them for life.

Before they leave, here are four financial essentials you’ll want to help them set up.

1. Banking

If they don’t already have one, make sure they open a checking account with:

• No monthly fees
• ATM access near campus without extra charges

This makes it easy for them to receive financial aid, part-time job income, or quick transfers from you.
For those unexpected “Mom/Dad, can you send me $20?” moments, tools like Zelle, Venmo, or PayPal can help you send money instantly.

2. Credit

Building credit early is important—but only with good habits.
Two options:

• Add your child as an authorized user on your credit card
• Help them apply for a student credit card with a low limit

Either way, make sure they understand one golden rule: pay off the balance in full every month to avoid debt and build strong credit.

3. Health Insurance

By law, students can stay on their parents’ health insurance until age 26.
That’s usually the most affordable choice.

Watch out, though—some colleges automatically enroll students in their own high-cost campus health plans. If your child is already covered, be sure to waive the unnecessary policy.

4. Car Insurance

Teen drivers are expensive to insure, but keeping your student on your policy often saves money—especially with multi-vehicle or good student discounts.

If your child is attending college out of state without their car, ask your insurer about a rate reduction for students not driving regularly.

Bottom line:
College is an exciting milestone, and helping your student manage money wisely now will set them up for success both during and after school.
Cover these four essentials—banking, credit, health insurance, and car insurance—and they’ll be well ahead of the game.