The price of a college undergraduate degree for just one student now ranges from $60,000 at a state college to over $200,000 for many private colleges. Multiply that by 2 or more students and adjust upwards 6-8% for inflation each year and you know why families are in crisis paying for a college education!
Very few families, regardless of income or assets, can afford to spend an additional $60,000 to $200,000 in after-tax dollars in just a short 4- or 5-year period. Earning and spending these college dollars can be a major drain on a family's finances. If the family uses college loans to "spread out" the pain, it often adds 50% to the final cost of an education.
It doesn't matter if the family uses cash or loans to pay. The total cost of college is devastating to future retirement. Few families realize that paying $200,000 for an education when a parent has 15 years until retirement means a LOSS of nearly $1 million in future retirement dollars!
| | Dennis Stewart heads a team of professionals that will help you:
- Determine the right strategy to comfortably pay for college for all your students without touching your savings and without relying on financial aid.
- Cut your out-of-pocket costs for college
- File financial aid applications that give you access to parent and student loans, merit aid, grants, and institutional scholarships.
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