What Are The Best Ways To Save For College?

The growing cost of college for our children can be downright overwhelming. Many parents are still paying off their own student loan debt. So thinking about the best ways to save for their kids’ college often gets delayed.

College costs in the US have steeply increased over the past few decades. From 1985 to 2011, the price of college rose 498%, according to Forbes, while the general inflation rate over the same period was only 114%.

Despite increasing costs, parents can’t ignore college without significant financial and/or career consequences for their kids. USA Today reports college graduates out-earn high school graduates by over 50%.

As tempting as it may be to bury your head in the sand about college, don’t.

It’s important to think through and plan for the next eighteen or less years in your child’s life to come up with, at the very least, a rough game plan for how your family will pay for your child’s higher education. Then, it’s time for saving and finally implementing your plan. So that when your child is ready to go to college, you and your finances are prepared as well.

College Planning

It’s nothing short of shocking to see how much college will cost ten to twenty years from now. The numbers can feel astronomical. But…