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.
The costs of higher education are rising. According to a recent College Board survey, today’s college education costs approximately $24,061 for an in-state public college and $47,831 for a private college, up 3% since last year.Inadequate planning through the college financial aid process can bring the burden of unnecessary debt in the form of unsubsidized federal loans, private bank loans, or home equity lines of credit. In our years of working with middle- and upper-income families, we have learned that you can save as much as 50% off of tuition costs with proper planning.