Tuition

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Early and Consistent Saving Is Key to Paying for College

If you have a child, or are even thinking about starting a family, you may be wondering how to afford to raise and educate your son or daughter with the cost of living ever increasing. Thinking about financing an education for your children is the first step in securing their future. But act – don’t just think. Start a college savings plan right now, no matter the age of your children, or even if you are just in the family planning stage. The earlier you start, the better off you’ll be when it comes to paying for the astounding cost of college. Tuition Shock If you’ve done no research lately on the cost of a college education, it’s time for a reality check. In its most recent survey of college pricing, the College Board reports a moderate college budget for an in-state public college for the 2017–2018 academic year averaged…

5 Smart College Savings Options for Millennial Parents

If you’re a Millennial with kids, then you know how expensive they can be. And if you choose to send your kids to private school, then you’ve probably realized that education costs will comprise some of your heaviest financial burdens as a parent. These costs can begin as early as preschool, and continue as late as graduate school. While Fidelity’s 2015 College Savings Indicator Study revealed that 69 percent of Millennials in the US are actively saving for their children’s college education, it also indicated that these same families are on track to meet just 27 percent of their savings goals by the time their kids are ready to enroll. With tuition costs on the rise, it’s crucial that you maximize your college savings today. These five savings options will improve your chances of meeting your children’s tuition costs between now and their freshman year. Coverdell Education Savings Account Generally…

5 Tips for Funding Your Children’s College Education

Whether you’ll be footing the bill in eight years or 18 years from now, here are five tips for funding your children’s college education. Depending on how old your kids are, that first college tuition bill may seem like a long way off. But given how much tuition prices increase on an annual basis, you’ll need to have well over $100,000 in the bank just to send one child to a four-year public college within the next 18 years – to say nothing of a private institution. If you have more than one child, then you can double, triple, or quadruple that number. And if grad school is in the cards…well, you get the picture. Panicking yet? You don’t have to. Here are five great ways to maximize your children’s college fund. Start Early It’s never too early to start saving for your children’s college education. You can even start…

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