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For most families College Costs are the second largest expense
they incur after buying a home. College Costs have been increasing at a much
higher rate than inflation
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Projected College Costs for a Child Age Five
|
College |
Tuition + Rm-Board |
Total Today |
Future Total*
|
Four Years |
|
Univ of Illinois at Urbana |
$17 + $13K |
$30K
|
$56.7K |
> $227K |
|
Wheaton College |
$48 + $12K |
$60K
|
$113.1K |
> $452K |
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Northwestern |
$62 + $19K |
$83K |
$172.5K |
> $690K |
Developing an accumulation plan for college costs is critical to a family's
financial security
* with 5% per annum inflation, for a 5 year-old today going to College
at 18
Here are some useful links for researching colleges and college costs.
We highlight two 529 plans, but in fact there are 50 to chose from. Please
consult your advisor when picking a plan to ensure you fully understand
all investment and tax implications.
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