Next to purchasing a home, a college education is probably the most expensive thing the average family will have to finance!
According to the College Board, a college degree now costs between $52,000 to over $130,000 and it is rising faster than the rate
of inflation. Gone are the days when parents could send their children to college with a modest savings plan and a couple of bonds
from the grandparents. College costs have simply risen too far and too fast for most people to keep up! Look at some statistics:
Today's
total cost for 4 years at a public university is approximately $52,000 and a private university is approximately $130,000.
· Statistics show that in 15 years the annual cost of a public university will be at least $45,000 and a private university will top
$80,000. Almost double the cost of public institutions.
· Today
51% of college students will take 5-6 years to graduate
· Several
million will enter college this fall
· Over 90%
of FASFA forms are submitted incorrectly
· 92%
of students will need and qualify for financial aid - IF they have saved in the right place.
· College
costs are rising at a rate of 3 times the rate of inflation
· 100% of parents need planning strategies to maximize college financial aid
