If you have one or more children, then you absolutely need
to be planning for their future educations, and you need to be doing it right
now. Even if your children aren’t of school-age yet, it’s wise to start putting
money away for their futures, especially when you consider the fact that
tuition prices are higher than ever before and that they are showing no signs
of slowing down; instead, they are continually on the rise.
The College Board lists the average cost of tuition and fees
for American colleges for the 2012-2013 school year as a whopping $8,655. And
that figure only applies to in-state students at public colleges; if you can
only afford to pay for your child to go to an in-state public institution, then
you are severely limiting his or her options. Unfortunately, though, the costs
of private colleges and of public colleges for out-of-state students are rather
exorbitant. The average cost of a private college for the 2012-2013 school year
was $29,056, and for out-of-state students at public colleges, the cost was
$21,06.
Obviously, with education costs this high, it’s imperative
to start education planning for your children as soon as you possibly can.
Figuring out how much to save and how to save it, though, can be difficult,
making it advisable to seek education planning
assistance from a Naperville financial expert. For those in the Naperville
area, Platinum Financial Associates is the place to turn for advice when it
comes to planning your child’s education.
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