How Much Will You Need to Send Your Child to College

How Much Will You Need to Send Your Child to College

A child born in 2015 that begins kindergarten in the fall of 2020 would attend college between the years of 2033 and 2037.  If that child attended an average private 4-year college and if the annual price increases for private colleges experienced over the last 30 years (+5.5% per year) continued into the future, the aggregate 4-year cost of the child’s college education (including tuition, fees, room & board) would total $496,673 or $124,168 per year (source: College Board).  If that child attended an average public in-state 4-year college and if the annual price increases for public colleges experienced over the last 30 years (+5.6% per year) continued into the future, the aggregate 4-year cost of the child’s college education (including tuition, fees, room & board) would total $224,887 or $56,222 per year (source: College Board).

If these numbers cause concern about how your children (or grandchildren) can ever afford higher education - we can help identify and address your concerns! Schedule a time to meet with us, and we will explore the myriad options for college savings and integrate the best choice for you into your retirement plan.

Securities offered through GLP Investment Services, LLC (GLP) Farmington Hills, MI 48331, Member FINRA.

Investment advisory services offered through Asset Allocation Strategies, LLC (AAS) a Registered Investment Advisor.

GLP and AAS are affiliated through common ownership. Compass Financial of West Michigan is not affiliated with GLP or AAS.

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