Putting children through college is one of the largest expenses most families will ever face. Historically education costs have outpaced inflation, though the rate of increase has varied, while general inflation has fluctuated, the average cost of college tuition and fees have risen faster.
The most popular way to save for educational expenses is by investing into a 529 Savings Plan. Each of these options has advantages and considerations that require evaluating your specific goals and situation. When you consider financial aid programs, scholarships, and family contributions; saving for university expenses becomes quite complex. At Financial Plans & Strategies, we can help you evaluate your options and develop a plan to provide for your education or the education of your children or grandchildren. Contact us today to learn more.