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College funding
For many parents, providing a college education for their children is an important family goal. Funding for a college education is usually the largest purchase a family will make, aside from buying a home, and paying for that education has never been easy.
In 2005, the average one-year cost of tuition and fees, and room and board at four-year public colleges in the U.S. was $12,605. After four years that total reaches $50,420 – and that’s not including books, transportation and other incidentals! Over the next 13 years college costs are expected to increase 4% per year. How will you pay for it?
Start Planning Early!
With college costs high and rising, a family needs to begin the college planning process as early as possible.
Before your child attends college (start as early as possible!)
Personal Savings (parents or grandparents)
When your child is in high school begin researching Scholarships and Grants.
When your child begins college there are additional options for funding including:
Military Aid Programs
Student Loans
Home Equity Lons
During college your child can participate in Work/Study programs. And then after college, there will be time to pay back loans.
Developing a plan to save for a child’s college education can be complicated. At Van Dyke Rankin Insurance we offer a free college planning review to help you determine the best methods to start a college funding plan. Complete a Needs Analysis and fax your information to 979-836-5059 or call us at 979-836-5636 (or toll free 1-800-460-5636) and we will set up a time to meet and review your college funding situation.