Kids, College and Money
August 21, 2013
Do you plan on helping your child or grandchild pay for college? According to the College Board, a moderate college budget for an in-state public college for the 2012-2013 academic year averaged $22,261. A moderate budget at a private college averaged $43,289. That is just for one year! Over the past decade, expenses at public institutions have increased nearly 40% and costs will almost certainly continue to rise. So it is very important that families think about these costs while children are still young. You also want to look at where the money will come from, such as a current income, scholarships, work, loans or savings. By starting to save today, parents and grandparents can help their loved ones have the resources necessary to attend college. College savings plans are available, so find out which savings plan is right for you and your family.