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Did you know that the average cost to attend a 4 year private college in 2008 is $25,143? That’s around $100,000 for a 4 year degree. Shocking isn’t it. Well hold on to your hat, because this next figure will knock you off your feet. In 18 years, the cost to send your kid to college and see him/her graduate with a 4 year degree will be around $215,000! See the College Savings Calculator. These prices include tuition, books, fees, and room & board.
YIKES! You better start saving now.
I’m happy to mention that Cathy over at Chief Family Officer has noted that when you open a new California 529 account at Fidelity you’ll also receive a $50 gift card to Target.
The offer expires on December 31, 2008, and is limited to California residents. You must establish an automatic monthly investment of at least $50 per month, with the initial $50 automatic investment contributed and invested within 90 days after the account is opened. There’s a limit of two gift cards per person, and each account must have a different designated beneficiary and be individually owned (no trust, custodial or other ownership arrangements).
Thank you for detailing the fine print, Cathy!
Technorati Tags: college savings plan, 529 plans, College Savings Calculator, Chief Family Officer, California 529 plan, college savings
kidletnation.blogspot.com says:
Terrifying. What’s even more frightening is how poor the quality of education is these days. Sooo… not only will you be spending more, you’ll get less for it.
Man, I can remember when a full year’s undergrad tuition in Canada was in the $3,300 range.
November 11th, 2008 at 7:28 pm