There's been some debate questioning the cost benefit of a four year degree because of the skyrocketing cost of college and the loan burden that this place on students and their families, it's becoming a generational anxiety.
There is no doubt college costs are outpacing inflation and Middle Class Americans' wages.
This episode focuses on education planning, specifically using the 529 Savings Plan.
Now here's some things to consider when you're planning for education. What type of college do you want your child to be?
public institution or private institution, and some cases you can pay twice as much to attend a private institution than a public university.
And then how do you feel about your child attending a community college to obtain their general education credits and then transferring those credits to a four-year institution. This could save you thousands of dollars over a two year period. So think about how much can you actually contribute on an annual basis to fund your child's education, prepare a spending plan to help you determine if you can fully fund their education, if that's what you desire, or perhaps you anticipate receiving some type of financial assistance and you plan to find maybe you're only 50% or maybe 30% of their education. Will, other family members be involved in paying for college as well, such as maybe grandparents or godparents. All of these factors will be important in determining how much you can contribute to your child's college education.
There's been some debate questioning the cost benefit of a four year degree because of the skyrocketing cost of college and the loan burden that this place on students and their families, it's becoming a generational anxiety.
There is no doubt college costs are outpacing inflation and Middle Class Americans' wages.
This episode focuses on education planning, specifically using the 529 Savings Plan.
Now here's some things to consider when you're planning for education. What type of college do you want your child to be?
public institution or private institution, and some cases you can pay twice as much to attend a private institution than a public university.
And then how do you feel about your child attending a community college to obtain their general education credits and then transferring those credits to a four-year institution. This could save you thousands of dollars over a two year period. So think about how much can you actually contribute on an annual basis to fund your child's education, prepare a spending plan to help you determine if you can fully fund their education, if that's what you desire, or perhaps you anticipate receiving some type of financial assistance and you plan to find maybe you're only 50% or maybe 30% of their education. Will, other family members be involved in paying for college as well, such as maybe grandparents or godparents. All of these factors will be important in determining how much you can contribute to your child's college education.