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Investing 4 College Education Funding Overview Achieving your financial goals requires a coordinated, integrated approach. Peace of mind is achieved from knowing that you have planned well. The sooner you start the better, since education costs are rising rapidly and aid sources are diminishing. College Planning Options College financing is a subject that causes great concern among families at nearly every income level. Unfortunately, issues surrounding college financing have become increasingly complex over the years, and this discussion is not going to be long enough to cover every aspect of every situation. The College Cost Environment Paying for college is not a one-shot, one-year affair. Parents and grandparents will have to think in terms of four years for a baccalaureate, six years or longer for a graduate or professional degree, and an eternity if they have several bright students spaced two or three years apart. Since you might be paying college bills several years into the future, it is essential to understand a bit more about the overall college cost environment. Tuition Costs Will Continue To Outpace Inflation Tuition costs will continue to outpace inflation. If tuition increases, continue at the rate of 8%, a $15,000 bill for the freshman year will be nearly $19,000 for the senior year. There are several reasons why tuition continues to increase at a rate nearly double that of inflation. College Is Still A Good Investment One bit of good news is that college still pays. Not only does a college education greatly enrich students' intellectual and emotional lives, but it will enrich their bank account as well. Over the course of 60 years, a college graduate will earn up to $1.9 million more than a contemporary whose education stopped with high school. College is also more affordable than most people think, with more people eligible for financial aid than realize it. Get started planning your son or daughter's educational future by clicking on any of the menu tabs above or the directory links to your left. You can always return to this page by clicking HOME. |