Why you should start saving for your child's higher education fees
The younger your child is, the more difficult it can be to fully understand the need to develop an education-funding plan. But with education expenses often starting as early as elementary school, it’s clear that the sooner you start saving, the better.
Even if you feel like you’ve already fallen behind, it’s not too late – what you do today can have a great impact on your child’s education down the line!
FOR THE 2011-2012 ACADEMIC YEAR, AVERAGE COLLEGE TUITION AND FEES PER YEAR WERE AROUND $21,000* FOR IN-STATE PUBLIC UNIVERSITIES AND $41,650 FOR PRIVATE INSTITUTIONS.(*FIGURES PERTAINING TO UNITED STATES)
Too often, these rising college costs stand between your children and their dreams for the future. Even if they excel in school, your children still might not be able to attend the college of their choice. The lack of an education funding plan often forces parents and students to make a difficult choice — take on the burden of student loan debt or avoid college altogether.
Speak to your trusted Wealth Architect to create personalized Education Funding strategy for your most important factor in life.
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