Among its many benefits, a college education can have a significant impact on future earning potential. It is an important investment. It is also becoming a more expensive one as increases in college costs continue to outpace inflation.
Fortunately, if you want to help pay for your child’s or grandchild’s education expenses, numerous financing options are available. These options have various advantages and disadvantages that you must carefully consider to determine the best strategy for your particular situation.
To help you achieve all your financial goals, education planning needs to be integrated into your overall financial plan. Education-financing goals must be weighed against other goals, such as retirement.
This paper will review:
- Rising education costs
- Savings vehicles
- Alternative sources of funding