This section has articles catered specifically to parents, guardians or relatives of students who are planning to attend college. We will help inform you of possible ways to save up for higher education.

 

Tuition costs of a college education are now averaging around $7000 per year for public schools and a staggering $26,000 per year for private schools - an 8-fold increase from over 30 years ago. Globalization and an increasingly competitive workforce means that going to college has become necessary for employment. Therefore, a plan for educational savings is crucial to manage these high and ever increasing costs. Fortunately, from high school to college and beyond, there are steps one you take and tools one can use to ensure a stable source of financing for your child’s education needs without destroying your own budget.

Tuition alone does not encompass all the costs of attending college. According to Sallie Mae, the true cost of one year of education, factoring in tuition, additional fees, room and board, supplies, transportation, and personal expenses, is actually around $13,500 for public schools and $41,000 for privates. If you thought saving up for a new car was hard, try saving up to buy four cars in four consecutive years!

And that’s why there are tools out there- compiled and listed by us- to help you plan for those costs. Before, during, and after college, there are programs set up to help you finance your child’s higher education dreams. With these programs and other tools and tips to building a college nest egg, your child can afford a high-quality college education without being swamped with debt.