College Funding
Planning for the expenses of a child entering college can begin at any age. While there is benefit to starting a plan when a child is young, any efforts put forth towards college funding will assist in reducing debt and offering flexibility.
The Cost of Education
Today the average price of a private college is $40,917 per year, and the average annual tuition at a four-year public college with in-state tuition is $18,391.1
The cost of tuition has also been increasing over the last 10 years. For private schools an average increase of 3.2%, and public schools an average of 2.1% increase in tuition each year.2
Visit Collegeboard.org for a college cost FAQ and college cost calculator.
Investigate Your Choices
Whether you're considering a 529 plan, an Education IRA, or funding a Uniform Transfer to Minors Act (UTMA) account, talking with an advisor at Rick Watkins Financial Services is a great place to start. Our advisors will help educate you about the options available to help you accomplish saving for a child's future education. For more information on college funding options contact us today.
1 Collegeboard.org 2013-2014
2 Average Rates of Growth of Published Charges by Decade, Collegeboard.org
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