To create an effective college savings plan, consider tuition inflation and your child's age. This will help you develop a strategy that meets your financial goals for future educational expenses.
Your Current Savings Plan
The following educational costs assume that your children will attend a four-year program. If they are planning on attending school for a longer period of time, the cost will increase.
Your first child will be entering school in 9 years. At that time, first year's tuition plus room and board will have increased from $45,000 to $58,715. Total costs for your first child's education are estimated at .
