More parents than ever are socking away money to finance their children’s college educations. (NewsUSA)
College costs are challenging
(NewsUSA) Ah, the plight of parents with college-bound children.
According to the just-released ninth annual national “College Savings Indicator Study” conducted by Fidelity Investments, while more parents than ever before are socking away money to finance their children’s college educations — 69 percent nationwide, up 5 percent from last year — they’re still on track to save just 27 percent of their stated goals by the start of freshman year.
Even non-math whizzes can see what’s described as “the challenge ahead” implied by these two numbers: $232 (the median monthly amount parents report saving) and $31,231 (the current average annual cost of tuition and fees at private colleges).
Of particular interest may be the behavior of millennial parents.
This is the generation, born between 1981 and 1997, whose particular revelation from the 2008 recession was how tough it is paying off their own student loans while trying to establish a career (56 percent who graduated with such debt remain saddled with it). So it’s understandable, as the study found, that they “appear particularly determined to help their children” avoid the same plight — specifically, by planning on covering 8 percent more than the 66 percent of their offspring’s college costs than parents overall.
“Millennials have weathered challenging conditions for much of their adulthood, and have adopted smart savings habits at a higher rate than their older counterparts,” says Keith Bernhardt, vice president of retirement and college products at Fidelity.
Here are some ideas you might not have thought of to keep from underfunding your own kids’ higher education:
Consider opening a 529 Plan. According to the survey, 93 percent of parents using one of these state- or state agency-sponsored, dedicated college accounts say it helps keep them on target. Savings can be used for tuition, books, and other education-related expenses. The best part? Federal income taxes are deferred on any earnings, and separate state tax deductions may also apply.
Get with the trend. You’ve heard of wedding registries set up to help finance a honeymoon in, say, exotic Bora Bora, right? Well, it’s the same for college. If you have a 529 Plan through Fidelity, for example, its free 529 Online Gifting Service lets friends and family contribute to your account — with a private dashboard provided for you to send invitations and track gifts.
Reallocate pre-school dollars. If your child has aged out of day care and afterschool care, that’s an average of $730 in monthly fees that could instead be squirreled away in a dedicated college savings account.
One other finding to emerge from the study: 70 percent of all parents say they need more “guidance” on the whole subject. Among the most popular Fidelity resource is an interactive, online College Savings Quick Check that lets you see how you’re progressing.
average age of man taking viagra is there a generic for viagra what happens if you take viagra and you don’t need it
ivermectin for cats ivermectin scabies buy online does tractor supply sell ivermectin
cialis kaufen mit paypal zahlen cialis ebay cialis with dapoxetine without prescription mastercard
generic cialis pills cialis online shopping cialis on line sell
cheapest doxycycline online buy doxycycline pills online doxycycline for sale online
clomid for sale online cheap clomid online order no script order clomid online india
amoxicillin 500 mg price amoxicillin 500mg capsules price amoxicillin buy canada
pills for erection men with ed the best ed pills
ed pills for sale best natural cure for ed how to get prescription drugs without doctor
best ed treatment pills cure for ed natural help for ed
ivermectin 400 mg information on ivermectin ivermectin dosage for cats
ivermectin pills ivermectin pour on for human lice
help with ed men ed ed meds online
prednisone 80 mg daily prednisone for sale prednisone 20 mg tablets
ivermectin treatment for covid stromectol ireland where can i buy oral ivermectin
ivermectin 8000 ivermectin 12 soolantra ivermectin cream
carprofen without vet prescription buy prescription drugs online without prescription drugs
cheapest propecia for sale generic for propecia cheap propecia canada
ivermectin pyrantel for dogs ivermectin heartworms stromectol 6 mg dosage
stromectol for humans for sale prescribing stromectol stromectol pills for humans
viagra where to buy viagra pills sildenafil 100 mg lowest price
viagra sildenafil citrate tablets 100 mg sildenafil 100 mg lowest price
sildenafil 100 mg sildenafil 20 mg sildenafil 100 mg
stromectol for humans for sale stromectol for sale stromectol for pinworms
buy generic 100mg viagra online viagra from canada buy viagra online canada
when will viagra be generic sildenafil citrate tablets 100 mg buying viagra online
original cialis low price cialis cialis switzerland
stromectol without prescription ivermectin brand name
https://drwithoutdoctorprescription.site/ buy anti biotics without prescription
buy prescription drugs online legally buy cheap prescription drugs online
ed drugs online from canada how to get prescription drugs without doctor
cialis 800mg buy tadalafil
viagra cost per pill best place to buy viagra online
https://sildenafilmg.online/# when will viagra be generic
viagra 100mg price viagra pills
amoxicillin 500 mg capsule amoxicillin 500mg pill
amoxicillin 500 mg price order amoxicillin 500mg
order zithromax over the counter zithromax for sale cheap
https://doxycyclineforsale.life/# doxycycline 100 mg capsule
generic prednisone for sale prednisone
furosemide 40mg furosemide 40mg
https://buylipitor.store/# lipitor lowest price
generic cialis tadalafil uk best tadalafil prices
pills for ed best ed treatment
cost of neurontin prescription price for neurontin
diflucan generic coupon generic diflucan prices
https://withoutprescription.store/# non prescription ed pills
diflucan tablets buy online can you buy diflucan in mexico
non prescription erection pills impotence pills
https://gabapentin.icu/# prescription price for neurontin