Planning Education Costs

It's never too early to start planning—and it's never too late to evaluate your resources. You can get a lot of information on the Internet, through bookstores and from advisors. Keep in mind that every family's situation is different. Your strategies should be tailored to your situation.

WHAT WILL IT COST?


This is what it could cost per year to send your child through college, including room and board.

SCHOOL YEAR​  PUBLIC 4-YEAR​PRIVATE 4-YEAR
2011 - 2012​ $17,094​ $40,040​
2012 - 2013​ $18,120​ $42,442​
2013 - 2014​ $19,207​ $44,989​
2014 - 2015​ $20,359​ $47,688​
2015 - 2016​ $21,581​ $50,549​
2016 - 2017​ $22,876​ $53,582​
2017 - 2018​ $24,249​ $56,797​
2018 - 2019​ $25,704​ $60,205​
2019 - 2020​ $27,246​ $63,817​
2020 - 2021​ $28,881​ $67,646​
  
*Costs assume a 6% annual increase and use as their basis the College Board’s Trends in College Pricing 2009 survey for current school year costs, including tuition, fees, room and board. 
 
 

SAVINGS STRATEGIES

 
Focus on the goal. Use our financial calculators to help determine how much you need to save. If you can't afford to save the entire amount right now, save the most you can. 

Stay disciplined. Make a plan to save on a routine basis and make saving a priority. This will keep you on track to meet your goal. Consider an investment strategy such as dollar cost averaging

Specialized account options for education. There are special types of accounts available to help you save for your child's education. 


TALK TO AN EXPERT


An advisor can help you. Learn about the value of an advisor.