The cost of a college education in the United States is rising. According to the College Board, it can cost your family $23,890 to send your student to an in-state public school, and $32,410 for a private school. To help American families with college costs, federal and state governments and colleges give more than $200 billion annually in financial aid. Your student can apply for financial aid to receive support to help meet the costs of obtaining a college education.
High college costs are commonly a pain point families are tormented by when planning their student’s future. Start a 529 Plan. A 529 Plan is an investment account that you can use to save for higher education expenses.