In this economy, students saving cash for college at an early age

FRANKFORT, Ind. (WLFI) - In this economy, many young students are realizing they need to start saving up for college sooner than they thought.

"I would like to either become a firefighter or study to become a scientist. A scientist that finds cures to things. Maybe like cancer," said Frankfort sixth grader Malik King.

He knows education doesn't come cheap.

"I really felt that it could help my family out if I had won the money so I just decided to (apply for a scholarship)," King said.

He wrote an essay and submitted it a statewide savings contest.

"The whole point of the essays is to get students and their parents thinking about how they are going to plan, prepare and pay for college," said Learn More Indiana press secretary Niccole Caan.

King won $529.

"I wrote about how my teachers help me and how I ask questions and make flash cards and stuff to help me prepare for it," he explained.

North White Junior Tassy Peterson's slideshow on ways to save cash won her $1529 for college.

"Scholarships, academics, sports and how to get money rounded up to pay for college," Peterson said of her slideshow.

She said even in high school, college seems far away.

"When they get there, they aren't sure what to do, what college to go to," Peterson said of many high school students. "They get pushed a lot. They may not want to go to this college, but they need to know what to do."

Her teacher Myrt Collins encouraged students to apply for the Indiana CollegeChoice Savings Plan.

"They are going '$9,000 to go to so and so?' or '$26,000 to go to St. Joe's!' I tell them that is no excuse because it cost so much. Don't sit back," Collins said.

King isn't sitting back. In his essay, he wrote one of the hardest things for him is saving money. His parents created a bank account for him. In the essay he said, "No more blowing it on stupid things like candy and video games!"

"If you go to college, you are more likely to make more money and you'll have a better chance of getting better jobs with a college degree," King explained.

King seems to have it figured out.