College planning

Many parents with good financial means already know about 529 plans: the tax-advantaged plans “designed to encourage saving for future college costs,” sometimes known as “qualified tuition plans,” according to the website SEC.gov.

As tuition costs continue to rise at double the rate of inflation, parents are thinking more and more about how to help children afford college.

It’s that time of year again. Time for parents to pack the car and drive their children off to college. As college costs continue to increase faster than the rate of inflation, many parents will spend more than a quarter of a million dollars on one student’s education.

If you are paying college tuition watching your bills increase faster than the rate of inflation you might be asking yourself this question. Over the course of a working life it’s been estimated that college grads earn from $900000 to $1.6 million more than workers without a degree.