IN THIS CHAPTER
Understanding the financial aid system
Examining the right and wrong ways to save for college
Figuring out how much you need to save
Finding ways to pay for college when the time comes
Exploring educational investment options
If you’re like most parents (or potential future parents), just turning to this chapter makes you anxious. Such trepidation is understandable. According to much of what you read about educational expenses (particularly college expenses), if costs keep rising at the current rate, you’ll soon have to spend upward of $300,000 dollars to give your youngster a quality college education. (And, if you add in graduate school, you could be pushing $400,000 to $500,000 or, gasp, even more.)
Whether you’re about to begin a regular college investment plan or you’ve already started saving, your emotions may lead you astray. The hype about educational costs may scare you into taking a financially detrimental path. ...