Saving for College

The first step in college saving is to create a plan.

According to The CollegeBoard statistics of 2010, nearly half (47%) of all full-time undergraduate college students attend a four-year college that has published costs of less than $9,000 per year for tuition and fees. Conversely, some private colleges can cost $35,000 or more for the same tuition and fees. This does not include any assistance in tuition grants or financial aid.

The most important element in your search for a college is to determine your child’s needs, and find a college that both you and your child feels is a good fit academically and socially.

Ways to save for college come in a variety of choices: just putting money away for any goal without a plan is not unlike getting in the car and just driving: if you don’t know where you are going, you will never get there.

While you don’t have any idea of what college your 2 year old will attend, you can’t dispute the facts: saving early and diligently can only create a better case scenario than a worst case disaster.