Saving For College
With the cost of attending college escalating each year,
1 many families are preparing well in advance to provide their children with the benefits of a higher education.
Consider the following:
1
- Private College – In 2010, the average cost for one year's tuition and fees at a private non-profit four-year college is $27,293, up about 8.6% from 2008-2009.
- Public College – The average cost for one year's tuition and fees for in-state students at a public four-year college is $7,605, up about 15.5% from 2008-2009. For out-of-state students the average cost is $11,990.
There are several vehicles that provide an opportunity to save for college on a tax-advantaged basis, including:
The means you choose will depend on your individual situation and goals. Your Legend Group financial advisor can help you make sense of your options, and guide you in developing a comprehensive investment strategy that can help you achieve your savings goals.