It was George Bernard Shaw who said that "youth is wasted on the young". So often it is education, or is it?

When you are six years old, life and school are the same, great fun. Our son, at that age, when asked what his favourite part of school was, replied, "recess!" When you are12, it still is not within the realm of possibility that you might have to eventually support yourself. For most of us growing up, life was financially secure. Sure, maybe your parents did not have the resources that your friends' parents might have had, but you more or less knew that you would not starve. So, then as now, day to day, in that age group, it is about the here and now only.

Most teenagers know about working full-time, but working for a living is difficult to comprehend because it has not been experienced. At least, not the full reality of paying rent, buying food, paying for transportation, utilities, and the ultimate sacrifice, making your money last until next payday. Perhaps some of the mental rebellion, if it surfaces, is due to the dawning thought process that in a few short years, some of the party is over. If you are opportunistic (and most young people are wonderfully so), maybe it isn't looked at that way; the prospect of becoming responsible for oneself (and no one else) is alternatively euphoric and terrifying. How many of us could not wait to be 21 and free? Why change? I was indifferent and remember little of a college quest. It was mainly dominated by our mother who was determined that we would have a better education than she. There could have also been the thought of having seven children live at home into middle age was just to terrible to contemplate. I am sure that she just wanted the best for us, so she pushed ahead to arrange something for us to do after high school. She made me apply to a reputable US college. Finances became very tough and I never went, attending instead a medical technician on-the-job training course. And was it another world. Totally green young individuals were sent to assist staff in medical street clinics, at a gigantic teaching hospital in one of the worst parts of the city. Oh, the people we came in contact with and the unmentionable sights we saw, real life on the hoof. But that is the subject of another story.

Would that initial college enrolment been appreciated and made the most of by me? Probably not. I learned the hard way that education counts. In my 40s, I finally went to college ? paid for by my husband ? along with many other likeminded souls who had discovered they could only earn sideways for the rest of their lives, not upward.

Times have changed, more often for the better. Today, most young people want to attend higher education. They know what that degree represents ? a 200 percent to 300 percent average higher earning power over their lifetime than those who only attend high school only. Parents and siblings alike make great sacrifices to bring this about. And there are a number of avenues to make a university education affordable, to obtain that college degree for those who truly want to participate. Of course, you, the star student, do have to maintain decent grades while this process evolves. International companies, bank foundations, private citizen foundations, Rotary and other trade associations and many others are always looking for good candidates. Private clubs award scholarships. It is your job to research, ask and get those funds. Often, the smaller awards go begging, but cumulatively they add up. Try this, open the phone directory to non-profit associations and write to them all. You just never know what they may have set aside for scholarships.

Don't let lack of funds stop you from fulfilling your dreams. Competitive cost loans are available from local banks, for many kinds of education: Private schools, boarding schools, colleges and universities including Bermuda College, online and correspondence course.

The loans are not just for tuition, but airfare, accommodation, supplies and books. Banks will need collateral to secure against, such as long-term deposits, land, vehicles, boats, and the government guarantee. Even the Bermuda Government has backed incentives to help you along. Quality education for all ? The National Education Guarantee Scheme is a $4 million dollar fund to help those who have the necessary qualifications, but few financial resources.

This is the sixth level of government support along with scholarships, Teachers Training Awards for students who wish to be teachers, Further Education Awards, and the UK Fee Differential.

The National Education Guarantee Scheme provides guarantees for loans issued by both publicly traded banks, an average of $6,500 toward student annual tuition fees. The student will sign an agreement that within six months of completing a degree course, the seven year loan repayment programme will begin. Unfortunately, even if you do not graduate, the loans must be repaid. This is a wonderful and reasonable programme which transfers the responsibility for the education to the one who receives the most benefit, the student.

In summary, there are many individuals and groups who want you to succeed. For some, even this financial help may not be enough. Nevertheless, with determination and sheer grit, you can become highly educated. I met a client years ago, who told me it took him 15 years to get through, attending college at night after a long day at his regular job.

Today, you can attend virtually, over the Internet, in your pyjamas, never leaving home. The opportunity is there, just waiting for your decision to succeed.

Martha Harris Myron CPA CFP? is a Bermudian, a Certified Financial Planner?(US licence) practitioner, VP and Manager, Financial Planning at Bank of Bermuda. She holds a NASD Series 7 licence, and formerly owned a US financial services practice meeting the needs of 400 individual and corporate clients. Confidential e-mail can be directed to marthamyron@northrock.bm

The article expresses the opinion of the author alone, and not necessarily that of Bank of Bermuda. Under no circumstances is this advice to be taken as a recommendation to buy or sell investment products or as a promotion for financial plans. The Editor of The Royal Gazette