Insurance Insights | News & Updates | The Capital Group Financial

Saving for Children’s College Cost

Written by Tyler Stewart | July 12, 2021
 

 

9 out of 10 parents want to cover at least 50% of their child’s college cost. Currently, the cost of a 4-year public college averages around $95,000 and a 4-year private school costs over double as much, at nearly $215,000. With the cost of college increasing 5-10% annually, how much needs to be saved to cover that cost, how do we keep up with the increase, and what are the best options to use to save?