A Wake Up Call on College Financing

A Wake Up Call on College Financing -A child born in 2013 who begins kindergarten in the fall of 2018 would go to the university between the years 2031 and 2035. If the child attends an average private four-year college, and if annual price increases for private colleges have experienced during the last 30 years (5.7% per year) continues in the future, the cost of four years overall the college education of the child (including tuition, fees, room and board) would total $ 483,238 or $ 0.810 per yearthe first question is :. Are you saving enough to pay for it? The second question is how will your family pay for it if you die prematurely and have not accumulated funds?The first question depends mainly on your cash flow and investment acumen. The second can be solved with the purchase of life insurance. The cost of the premium will be pennies on the dollar. The cost of not doing this may be a child who is unable to go to college or has incredible financial struggles to do so. Shane's story is a stark reminder.