Achieve financial protection and help pay for the increasing costs of college tuition. The cost of College is increasing faster than inflation at a rate of 7-8% per year. If it continues at this rate the idea of being able to afford to send your kids to college may seem like it’s out of reach. We hear so much about 529 Plans. However they are not the only answer to the College Funding Solution and depending on the school, having them may even lower the amount you qualify for in regards to financial aid. There are other safe, guaranteed, tax favored products available that will provide for these costs and offer you peace of mind.
It's never to late too put together a plan on how you are going to pay for College Expenses. Today the cost of college over 4 years could add up to well over $200,000 just for one child. Without the guidance of a professional planner, an average family may end up sacrificing their retirement savings, incur a huge amount of debt or even have to crush their child’s dream of attending college. You may have a good income and have saved for years to fund your child’s education, or you have nothing saved and realized now is the time to think about it. No matter what your situation, through proper planning you could help secure your child’s future and protect your retirement funds.
You need to plan for the high cost of College! You cannot ignore the fact that your child will most likely want to go to College. When that day finally comes, would you want to crush their dreams and tell them that you cannot afford to send them? Earning a college degree today can cost a significant amount of money. It is more important than ever to put a plan in place right now, so that you will be able to pay for this expectantly huge bill that you will ultimately face. There is hope if you start planning now. Take the time to do your homework and seek out the strategies that will allow you to not only help pay for the increasing costs of college tuition, but will also help you achieve financial protection and secure your retirement savings.
Develop a plan
A quote from T. Boone Pickens,
“A fool with a plan is better than a genius with none.”
That goes with so many things in life, but especially as it pertains to the college planning process.