College Planning
College is an investment for a lifetime - the gift of a college education can open the door to a world of opportunity for your child or grandchild. Saving, even a little at a time, can make a big difference down the road. With the cost of a college education continuing to increase, the key is to start saving early and regularly.
Saving a Little Can Go a Long Way
Remember - no matter how much you save, even a little can make a difference.
Like any other major investment, the key to saving for college is to start early and save regularly. By saving a set amount at set times, your money can grow as your child does. And before you know it, you'll be just as ready for college as they are.
Set your college savings goals realistically. You may not be able to save enough for all four years of tuition, room and board, and other expenses - but you can save enough to give your child the right start.
For example, a family that begins setting aside only $50 a month when their child is born can accrue over $14,000 in an account that earns 3% interest per year by the time the child turns 18.