Affording higher education

Education beyond high school usually has a high price tag. Starting to save early is a great first step to making it affordable.

Instructional Text

There are lots of benefits for students who pursue education beyond high school. From a purely financial point of view, the level of education a person achieves can make a huge difference in their future earning power. Image Description
Absolutely. On average, a college graduate earns over $1 million more in their lifetime than a high school graduate, and that gap is growing. Image Description
But whatever your child’s goals may be whether it’s a four-year college, junior college, technical training or trade school education after high school usually has a high price tag. Image Description
The amount of money you’ll need will depend on a variety of factors: the school you choose, whether it’s public or private, whether it’s a 2-year or 4-year program, and whether your child is going to be living at home or at school. The costs can vary significantly. But it makes sense to start saving as much as you can as soon as you can. Image Description
The U.S. government has created two special programs for adults to set aside savings for their children or grandchildren’s education. Most financial institutions across the country offer these programs. The first program is called an Education Savings Account. The second program a 529 Plan offers two basic types of plans. Image Description
To compare these savings programs, click the Next button. Image Description

Education = Earning power
College degree = $1 million+
School costs vary
Start saving early!

Two government programs:
  • Education Savings Account
  • 529 Plan (2 types)
Click the Next button to continue.
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