What's your idea of financial security?

 
 
Kyle Hosick
706-884-5696
Lagrange, GA
 
Monday, November 24, 2014

Paying For College

You and your children’s earning potential can dramatically increase with your level of education. In fact, according to the Bureau of Labor Statistics, someone with a bachelor's degree earns an average of $20,000 a year more than a high school graduate.1

That’s one reason saving for college is important, but there are other potential benefits to consider as well:

  • More career opportunities
  • Greater chances for advancement
  • Improved employee benefits

The costs

The average annual cost of tuition, room and board for the 2012-2013 school year for public and private college were2:

Type of school

Average annual cost

Increase over prior year

4-year in-state public university

$17,860

4.2%

4-year non-profit private university

$39,518

4.1%

2-year public college

$3,131*

5.8%

*Tuition and fees only. Sample for inclusion of room and board too small to provide meaningful information.

While inflation only grew at about 2 percent in 20123, it’s obvious that college expenses are increasing at a much faster pace than the cost of living.

Paying for college

Financial Aid

Personal Savings / Investments

Depending on your family’s assets and income, financial aid may be available to help pay for college. The purpose of financial aid is to provide the difference between college costs and what the family can afford.

There are three main types of financial aid:


  • Grants and scholarships
  • Loans
  • Work programs

According to The College Board, loans account for 38 percent of all financial aid. Learn more about the types of financial aid available in our Tools page External Link.

For a free Expected Family Contribution calculator, visit www.collegeboard.com.

If financial aid is a possibility, should you and your child save money for college?

 

The availability, type or amount of financial aid is not guaranteed. Loans are a common form of financial aid, and loans almost always have to be repaid by you or the student. So, it makes sense to save for future education expenses.

COUNTRY offers a variety of planning options to help pay for the high costs of higher education. I can sit down with you to explain your options and help you plan for a secure financial future.

Call me today.

Learn more


NOT FDIC-INSURED
May lose value
No bank guarantee

1Bureau of Labor Statistics External Link, March 23, 2012
2The College Board External Link, Trends in College Pricing, 2012.
3Consumer Price Index External Link, 2012 

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