There is an ever growing correlation between amount of education and future professional salaries. A bachelor’s degree alone is now often the bare minimum, with many employers looking for some sort of post-graduate degree. Between the steep costs of tuition and ever-rising cost-of-living at college, the rising generation of students is finding itself overwhelmed by loans, from both undergraduate and postgraduate degrees.
As a parent, one of the best gifts you can give your child is a debt-free education. It is never too early to start thinking about saving for your children’s education. If you start when they’re born, you have about 18 years to save for the average yearly tuition of $8,893; and that’s public and in-state. A private or out-of-state institution can average to $30,094 a year. Despite these numbers, only around 50% of parents have savings set aside for their child’s education. If you’re not sure how to pay for a dependent’s college, here are five places to start: Continue Reading →