The College Board (R) estimates that the average tuition and fees for 2018-2019 among College Institutions is $33,920.
Using a 5% inflation factor for college costs, a child going off to college in 18 years could be facing the following price tags:
$268,553 total cost or $67,138 / year for 4 years (public in-state college)
$435,140 total cost or $108,785 / year for 4 years (private college)
$351,846 total cost or $87,961 / year for 4 years (average of public in-state and private college costs)
It’s safe to say that putting a child through college may be one of the largest expenses any one person or family undertakes in life. There are a myriad of options available to you when choosing how to save for college and each method has benefits and potential drawbacks. We at Centurion Wealth work closely with you to help choose the right savings plan or program to help you plan for your future in education or the future of your loved ones.