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the ABCs of college funding
What every parent needs to know
As your kids work hard to get ready for college, are you getting ready financially?
There is no better time than now, to start investing in your kids’ college education.
It's a lifetime investment
It's a fact -- according to U.S. Census Bureau statistics, people with a bachelor's degree earn over 62 percent more on average than those with only a high school diploma. Over a lifetime, the gap in earning potential between a high school diploma and a B.A. (or higher) is more than $1,000,000. Does that make you think that the sacrifices you make for a college education in the short term, are well worth it?1
Tuitions vary
The cost of a college education varies by school. Private universities typically cost more than public universities or colleges, and while tuition can exceed $30,000 a year, the average cost is well below that amount. In fact:
* Nearly 70 percent of college students attend four-year colleges where tuition is less than $8,000 a year.
* The average cost (tuition and fees) of a four-year public college or university is $4,694.
* The average cost (tuition and fees) of a four-year private college or university is $21,235.1
Plan and save now
There are more ways to pay for a college education than ever before and it’s never too late to start planning and saving. You’ll want to look at:
* Your personal savings and investments
* Accessing financial aid programs
* Taking advantage of federal tax breaks
* Using state college savings programs
So how much is enough?
Our college funding tool can help you see what your kids’ education could cost and how much you may want to start saving today.
A great first step in ensuring a secure financial future for your kids would be to contact an investment professional who will work with you to develop a college-funding plan that fits your needs.
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