Paying for college is a test you don’t want to wait until the night before to study for. According to the College Board, the current average four-year cost of tuition is $118,443 for private colleges, $33,901 for public colleges.* In 18 years, four-year college tuition is estimated to cost over $315,000 private, $213,000 public.** The good news is that 529 plans like Tomorrow’s Scholar allow you to save a lot for college with many tax advantages and few restrictions. Even better are the low minimums that put higher education within reach of almost any family budget.
The key is planning. To help make the sometimes overwhelming prospect of paying for college more manageable, here are a robust set of tools and resources to help you plan and show how you can make college possible.
- College Planning from Birth to Graduation No matter what the child’s age, you can make the most of the opportunity
- Planning for the Cost of Higher Education How to help build a sound college savings investment strategy
- Financial Aid 8 things you can do to help maximize your child’s eligibility for Financial Aid
- Gifting & Estate Planning Some tips on how to engage the whole family in a child’s education
- Calculators A look at the numbers shows how paying for college might be more affordable than you think and why saving today provides a substantial benefit over taking college loans tomorrow.
* Source: College Board, Education Pays, 2010 (latest data available)
** Source: College Board, The Annual Survey of Colleges of the College Board and Data Base, 2008-2009.