Saving for college is challenging. We want to make it easier.
If you save early and wisely, college may be affordable after all. We’ll show you how. Start by teaming up with a Financial Consultant at DFCU Financial Partners through CUSO Financial Services, L.P. (CFS), our broker-dealer. With years of experience, our Financial Consultants are skilled in the art of creating smart college savings plans. We’ll explain the investment process in easy-to-understand language. And help guide you through a number of options – several are federal tax-free – that can help ensure your child will receive a quality education.
Running the numbers.
We all know college is expensive, but exactly how much will it cost? Here are some facts that’ll give you a rough idea.
Public University
|
Child's Current Age * |
Four Years Could Cost ** |
|
6 |
$113,034 |
|
12 |
$79,685 |
|
17 |
$59,544 |
Private University
|
Child's Current Age * |
Four Years Could Cost ** |
|
6 |
$243,629 |
|
12 |
$171,748 |
|
17 |
$128,341 |
Strategies to make the grade.
If you start saving regularly while your child is young, you’ll put yourself in a good position by the time your son or daughter is ready for college. Your Financial Consultant can help you select the most appropriate plan to set up for your child’s education.
Finding the right mix.
Finding the right investment plan depends on a number of factors, such as how much money you can save, how long you have to grow your money, your other investments and your risk tolerance. Your Financial Consultant can work with you to choose a plan that will help you to meet your needs, with the right mix of investments.
Useful information.
Here is a brief rundown of five of the most popular accounts in education saving. Your Financial Consultant can help you find which one is best for you.
Source:
* College Cost Projector, www.finaid.com.
** Assuming the costs of a four-year public university and four-year private university continue to rise at an average rate of 6% which is the rate of increase from the academic years 2000-2001 to 2001-2002. (The College Board.)