Dr. Judith Gerhart, CFP
Certified Divorce Financial Analyst 
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The University of Ouch
January 2, 2009
Federal and state financial aid for college students may be shrinking but tuition costs continue to rise at 4 percent to 6 percent a year, according to the College Board, a nonprofit representing colleges and universities. Based on the College Board’s 2007-2008 tuition report, the price of attending a private university for 4.5 years has reached nearly $103,500. If college costs continue to rise at the current rate, in 10 years that number will be over $200,000.
With Americans marrying later in life and waiting to have children, parents may be facing college costs while simultaneously planning for retirement. That makes starting on college savings early even more important to your future as well as your child’s – especially considering adults with college degrees make
an average of $1 million more than those without during their lifetime.
Regardless of your child’s age or the number of children you have, you do have options for investing for college costs. Your financial planner can help you evaluate different strategies and select those that best meet your goals for paying for college.
By: www.themoneyalert.com
Posted by Judith Gerhart on January 2, 2009 | Permalink | Post a comment
Topics: Finance |
