College tuition continues to climb and putting aside money
for your children’s educational future is extremely important. Saving for your children’s college fund may
seem daunting, but don’t wait too long to start planning. The financial advisor team at Bogetto &Associates can work with you to provide options for your children’s college
years and help you work toward achieving financial goals to meet the tuition
needed for college. We can suggest
possible saving and investment strategies that can help you start working
toward meeting college tuition costs.
First, Create a
Savings Plan and stick to it.
Consider saving for your children’s future education soon
after they are born. The sooner you
start putting money away for their college, the less stressful it will be as
those years approach. Do some research
on how much your children’s education will cost and then discuss a savings
strategy with a financial professional to ensure you have enough when the time
comes.
Determine how much money
will be you need for college.
College tuition can vary greatly from school to school. Ivy League college tuition can be in the
$50,000+ range per year, while state university tuition can be as low as $6000
per year. (http://trends.collegeboard.org/college-pricing/figures-tables/tuition-fees-sector-state-over-time). Deciding on the amount of money you expect to
pay each year will drive your saving and investing strategy.
Have a mixture of
savings and investing as part of your strategy
If you begin planning for your children’s college fund
early, time is on your side. You can
consider a regular savings plan where you contribute on a routine basis, and
also invest in longer term products that may have a larger return than a bank
savings account will provide. Give us a
call and we can give you advice on investment products that can help you work
towards your financial goals.
Consider looking at
Financial Aid, Scholarships, and Grants
Most High Schools today have
student financial aid advisors that can help you apply for financial aid. When thinking about your college
requirements, check with these experts to see how this may help bridge any gap
between your savings/investment plans for college tuition. For more info about Financial Aid, go to https://fafsa.ed.gov/
If you don’t qualify for financial aid, help may be found
via a variety of scholarships, grants and other awards. When visiting potential colleges, make sure
to stop into the student financial aid office to learn what is available at a
particular school. Scholarships are
gifts that don’t need to be repaid. There are thousands of them, offered by
schools, employers, individuals, private companies, nonprofits, communities,
religious groups, and professional and social organizations.
There are also Grant options that are based upon financial
need. A Grant is not a loan and does not
need to be repaid unless you withdraw from school. For more info about Grants and scholarships,
go to https://studentaid.ed.gov/sa/types/grants-scholarships
Bogetto &
Associates can help you plan for college
If you have children who are planning to go to college, it’s
important that you talk to a financial advisor as soon as possible. Our team at Bogetto & Associates will
listen to your goals for saving for your children’s college tuition and we can
provide you options toward working to achieve those goals. Let our experience make the difference in
your financial future…now and for tomorrow!
Financial Health...For Now & Tomorrow
Contact us Today
Website - www.bogettoandassociates.com
Telephone - 314-858-1602
Email - peter@bogettoandassociates.com
10805 Sunset Office Drive, Ste. 202
St Louis, MO 63127
Website - www.bogettoandassociates.com
Telephone - 314-858-1602
Email - peter@bogettoandassociates.com
10805 Sunset Office Drive, Ste. 202
St Louis, MO 63127
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Bogetto & Associates does not provide legal or tax advice. These topics are discussed in conjunction with your CPA, Tax Advisor and Attorney.
Bogetto & Associates does not provide legal or tax advice. These topics are discussed in conjunction with your CPA, Tax Advisor and Attorney.
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