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Saturday, May 14, 2011

Can you afford college tuition now ..?

With the cost of living on the rise I’ve heard concerns about many expenses but the one expense which has seldom been discussed in my circle is college tuition for the little one. Have we forgotten this expense is also on the rise ? student-loan-programs-2
The good news is you can pre-pay for college with a 529 plan. Lock in the cost of college today instead of being burdened by the cost of college tomorrow.
That sounds like a winner to me.
I’ve heard a lot of parents brag about how smart their child is and I usually wait for them to brag about their college fund only to be disappointed.
If I’m disappointed by your lack of planning just imagine how disappointed they’ll be. Having smart children is great. Having smart children with a 529 plan is much better.
Let’s face the facts leaving college with more debt then you entered isn’t a very good start on the road to success and yet this is the fate for thousands of college bound students who must rely on student loans.
This was also the case for both of my parents which leaves me to wonder how can two parents struggling with their own college debt prepare for their children’s college education.  Break the cycle.
For more information on pre-paid college plans read : An Introduction to 529 Plans

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