College costs are increasing at a high rate at both private and public schools. Four years of tuition and room and board at a private college could reach astronomical levels. And public colleges, although significantly less expensive than their private counterparts, are still costly. It is important to understand the choices and options available to you to help you plan carefully for this major expenditure.
Take some time to explore this section. When you've done so, you will:
- Have an idea about how much college will cost.
- Have basic information on investment alternatives you should consider.
- Know if it makes sense to own the investments yourself or to keep them in your child's name.
- Be familiar with alternative pre-funding plans and sources of loans when you haven't saved enough.
- Understand the various education tax incentives available.
- Have basic knowledge of the financial aid process and ways to improve your eligibility.
- Know where to go to get more information on scholarships.
- Be able to develop an action plan to best meet your overall college funding needs.