Saving for college has become a very important and significant expense for most parents. When you consider the potential cost of a four-year, higher education degree, the numbers can be daunting. Plus, factors such as the many investment alternatives, tax complexities, and qualification rules, make it even scarier.
We can help you.
One of the most important steps to take when determining how much to save for your children’s education is to have a picture in mind of what the education environment will be that you are providing.
- Will your child go to a four-year college, two-year state school, technical center, or a combination thereof?
- Will your child attend an out of state school with room and board requirements, an in-state school where commuting is a possibility?
- Do you intend to provide for graduate level expenses?
Once you define your intended college experience to provide, you can then begin the process of setting a target dollar goal and the methods and strategies to get there. Some choices are Prepaid Tuition Plans and 529 Plans.