Although students may be able to obtain grants, scholarships or other types of financial aid, without a proper education savings plan, the costs of post-secondary education can put a strain on a household’s savings.
WFG agents can offer a client an individual education plan, based on your and your child’s needs, that can help you support the cost for K-12 private schools and/or tuition and fees of college.
- The cost of education remains a significant financial challenge for many families, and many underestimate the price.1
- College tuition has steadily risen over recent years, and the 2022-2023 school year is no exception. The average in-state tuition at a public college is $10,423 and out-of-state is $22,953. Private college tuition is $38,185.1
- Based on the average current amount of in-state tuition at a public college of $27,940 with a college cost inflation rate of just 5% per year in 2 years the total amount for a four-year degree will be $132,768.2
How a WFG Agent Can Help
- A licensed WFG agent can guide you in building a strategy that can help relieve at least some of the financial burden of paying for your child’s education.
- The education savings plan for you may include not only preparing for college costs, but also helping you defer costs to pay for K-12 and other education expenses. Speak to one of our licensed agents to learn more about your education savings plan options.
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