The best things in life aren't free
Wouldn’t it be great if our children could go to the best schools and get the best education without having to worry about the financial cost? I think we all can agree that as parents we want the best for our kids. But sometimes the best things in life aren’t free or even reasonably priced – like higher education.
Do we really take into consideration the cost of education and our child’s expected income once they graduate? Most American families don’t. Some students end up owing three times more than their “expected” salary in student loan debt (sometimes even more). Are we really helping our kids get a better education or setting them up for “the financial loan blues?” A recent study showed that 40 percent of families don’t limit their college search based on cost of tuition or even use a realistic funding formula when arriving at the amount of borrowing a certain school selection may require.
A great way for parents to prepare for the high cost of a college education is to use a 529 plan (like College Illinois!). Many people aren’t even aware that these types of savings options exist. In fact, only nine percent of the families contacted in the study mentioned above are using this type of “tax-free” account.
Don’t make the same mistake! College Illinois! enrollment re-opens for 2008-'09 on October 29, so arm yourself with the facts on our Web site and take advantage of the great benefits and peace of mind that owning a 529 account brings. Get informed now so you can be ready to enroll and help drive that nine percent up by securing an excellent rate! Isn’t your child’s future worth at least a few clicks? We think so.
Do we really take into consideration the cost of education and our child’s expected income once they graduate? Most American families don’t. Some students end up owing three times more than their “expected” salary in student loan debt (sometimes even more). Are we really helping our kids get a better education or setting them up for “the financial loan blues?” A recent study showed that 40 percent of families don’t limit their college search based on cost of tuition or even use a realistic funding formula when arriving at the amount of borrowing a certain school selection may require.
A great way for parents to prepare for the high cost of a college education is to use a 529 plan (like College Illinois!). Many people aren’t even aware that these types of savings options exist. In fact, only nine percent of the families contacted in the study mentioned above are using this type of “tax-free” account.
Don’t make the same mistake! College Illinois! enrollment re-opens for 2008-'09 on October 29, so arm yourself with the facts on our Web site and take advantage of the great benefits and peace of mind that owning a 529 account brings. Get informed now so you can be ready to enroll and help drive that nine percent up by securing an excellent rate! Isn’t your child’s future worth at least a few clicks? We think so.
posted by College Illinois! at 9:29 AM
