Feb 21 2008
Paying For College - How Much To Save?
When parents first start trying to decide how much to save, they often get overwhelmed by the cost of a college education. According to the Bureau of Labor Statistics, tuition increased by 8% per year, on average, from 1979 to 2001. This means that children born today will face college costs that are 3 to 4 times current prices. For example, this means expenses to attend a four year college could total $300,000 by the time your child is of college age (keep in mind this estimate is based on your child attending the highest priced college or university).