You want your child to have a college education, but the rising costs of college tuition may make the dream of college seem like a fantasy. With proper savings, you can help fund your child’s college education.
Know how to save for your child’s future
The cost of private or independent California colleges can be as much as $50,000 per year. California public colleges (CSU and UC systems) offer lower tuition rates to in-state students, but the cost of tuition, fees, books, supplies, room, and board at the state schools can still average between $25,000 and $35,000 per year.
There is valuable financial advice for students interested in college, including applying for all of the grants and scholarships for which they are eligible. However, waiting to see how much funding for college your child will receive is not the best financial plan.
To help families save for the cost of higher education, the federal government created 529 plans. These tax-advantaged savings plans are designed to encourage saving for future college costs.
At Rowling & Associates, we can:
- Explain the benefits of a 529 Plan and how you can take advantage of the plan.
- Recommend a top-rated 529 Plan for you.
- Determine how much you need to start saving each month to meet your college funding goals.
The sooner you start saving for college tuition, the longer time your money has to grow. Help your children go to the college of their dreams by investing in their future today. Contact San Diego-based Rowling & Associates today to schedule an introductory college financial planning meeting.