South Windsor has some the best school in CT but It doesn’t take a degree in finance to see the cost of college continues to rise. Is it too late to open a 529 plan? No its not. In its 2012 report, the College Board reported that public four-year institutions raised prices an average of 5.2% annually between the 2002-03 and 2012-13 school years. Put another way, a $5,000 education in 2002-03 is projected to cost $8,301 in 2012-13. I’m always getting asked by families, should the lion’s share of education costs falls on parents and, in some cases, on grandparents? Generally the majority of families rely on a combination of scholarships, grants, financial aid, part-time jobs, and parent support to help pay the cost. If your child is approaching college age, a good first step is estimating the potential costs. The accompanying worksheet can help you get a better idea about the cost of a four-year college. If you’ve already put money away in a 529 Plan for college, the worksheet will take that amount into consideration. If you haven’t, it’s never too late to start. Resources There are a number of resources that can help individuals prepare for college. The U.S. government distributes certain information on colleges and costs. Here are two sites to consider reviewing:
Saving for College Calculator
http://www.mundofs.com/resource-center/investment/saving-for-college Resources
http://www.mundofs.com/resource-center/investment/estimating-the-cost-of-college
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