SAVING ON, NOT JUST FOR THE COST OF COLLEGE
Parents today are faced with more challenges than ever, none more important than trying to fund your child’s education, while still saving for retirement. Traditional financial advice has usually sounded something like this, “just borrow for college because you can’t borrow for retirement,” but we think there’s a better way.
A GROWING PROBLEM
Over the last decade, the costs of college have increased an average of 5% per year, and show no signs of slowing down anytime soon. Current figures show that the average cost of college can range anywhere from $19,000 to $43,000 per year! Once you start multiplying these values by 4 (or more) years, and how many kids you are planning for, the figures can get pretty overwhelming.
AN ESSENTIAL UNDERTAKING
Even though the cost of college continues to increase, it's hard to argue that a college education is an invaluable experience for your child's development, aspirations and quality of life.
THINKING OUTSIDE THE BOX
Make no mistake, if helping pay for your child's education is one of your goals, saving efficiently is important; but it's only one component of a solid college funding plan.
The 4 components of a truly comprehensive college funding plan include:
Smart School Selection
Maxing out Financial Aid
Intelligent use of your Personal Resources
Capitalizing on Tax Benefits