Help Make College Dreams a Reality
Today, college isn’t just a dream; it’s practically a requirement, and the price tag keeps going up so education planning is important. A bachelor’s degree can mean an income as much as 70% higher than that of someone with only a high school diploma, an advantage that Money magazine estimates translates to an additional $1 million in lifetime earnings.
An Investment in Your Child’s Future
Unfortunately, this greater earning potential does come at a cost. Today, the cost of a four-year degree at many private colleges is well over $100,000, according to the College Board, and by the year 2020, the cost of a four-year education could be more than $210,000 for a private school and almost $160,000 for a public school.
Save Now and Save Later
Student loans will cost your child even more than the original price, but having a good education savings plan will save thousands in the long-run. Less interest to pay will help your child get off to a great start in their future.
A college education for your child or grandchild is still attainable, but it is not automatic. The good news is there are strategies that can help make it happen and Lincoln Savings Bank can help make it a reality at any of our Iowa locations. To find out how much you need to save, check out our College Savings Calculator.
It's Never Too Soon to Start Planning
Whether the child in your life is 13 years old, 10 months old, or due any day, it’s never too soon to start planning. Thinking about the costs involved in a child’s education can be overwhelming, but the earlier you begin saving, the longer your money can work for you. Making prudent investment decisions can also make a big difference.
Don't let your dreams fade. Contact us today for a consultation.
Together we'll chart a path to your future.