CHAPTER 3Education Costs
No one doubts the importance of education—for ourselves, our children, and our grandchildren—but obtaining it can be pricey. According to U.S. News data, the average cost of tuition and fees for one year in a public university (in‐state) for 2022–2023 is $10,423 and for a private college is $39,723. The cost of tuition and fees has risen by 134% since 2002. And don't forget other costs, such as room and board, books and supplies, etc. Fortunately, the tax law provides many incentives to help you save for education and to pay for it on a tax‐advantaged basis. There has also been relief with respect to student loan repayments and other measures related to ...
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