College Savings Plans
These days, college education costs can easily equal the cost of a small mortgage. On average, tuition is increasing about eight percent per year, which means the cost of college doubles every nine years.
Can you comfortably spend up to $180,000 PER CHILD on his or her college education?
That means if you have a child today, he or she is facing costs of more than three times this year’s rates when college time rolls around. Look at these daunting statistics:
- Average private college tuition costs more than $38,000 a year.
- Ivy League and other prestige colleges can set you back even more.
- College tuition costs are soaring over 8 percent annually.
- You must save $600-$1,000 a month PER CHILD, depending on the age of the child.
Speak to BeamaLife at (800) 554-7822 about a whole life Insurance based college Plan – which will not figure into college financial aid calculations – and our version of 529 College Savings Plans or complete an information request form now.