Investing for College

It's not rocket science, just common sense.  By starting early and investing regularly, your children may have a wider choice of colleges, and paying the bill won't hurt as much.

Whoever said the best things in life don't come easy certainly could have been referring to college.  Few would argue with the value of a college education.  But the cost of four years' education can break any family's bank.  A student who enters a public college this year can expect to pay $14,465 for four years' education, on average, while those attending private schools may face bills totaling $66,290.  With the cost of higher education rising faster than inflation, parents of today's four-year-olds may face bills well over $100,000 -- and that's not including room, board, transportation, clothes, books, supplies and sundries, which in some cases can double the total cost of going to college.

As frightening as these numbers are, you can take comfort in three things: One, you do not have to save the entire four-year cost.  Two, you can get financial aid to pay for college.  Three, the assistance doesn't end once your child graduates.  This lesson will explain programs and strategies for saving and paying for college, and how a student can be smart while paying off post-graduate debts.