College costs hit a record high back in 2016, and it’s only gotten worse ever since then.
Needless to say, college is getting more and more expensive every year, and there’s no signs of stopping. The good news is, parents have multiple options and more than enough time to get ready to afford college for when their kids come of age.
But Why Is College So Expensive?
According to Business Insider, there are multiple reasons for surge in college tuition costs. One of them is simply a huge increase in demand over the past few years – and to no surprise, really. Attending college is one of the most important things in today’s day & age, and parents are slowly realizing that. With more students attending college, it’s no wonder that costs have gone up so high. But that’s not the only reason.
The amount of financial-aid programs has increased drastically as well. In fact, in 1970 there were almost no financial aid programs available for college. But things have changed and students are taking advantage of it, which leads to further increase in college costs. On top of all that, colleges have to hire additional faculty members and student services such as health care, private counselling etc. All of this combined led to a huge increase in costs, and it’ll only get worse.
However, it’s not all so dark and gloomy. College may be getting more expensive, but it’s still a smart choice nonetheless. According to Brookings.edu, college remains to have very high returns on investment. Over the lifetime, college on average graduates earn $600.000 more than those with a high-school diploma only. It still remains by far the best option after high-school and it’ll be like that for a long time. On top of that, college also has other, non-monetary benefits for all students, and there’s no price to be put on that.
Bottom line? College is expensive. But it’s still a worthy investment.
What all of this means for parents?
Dear Parents – You Need to be Ready
College is expensive and it’s getting worse with time.
Parents all over the country are worried – and for a good reason! As soon as your kids are born, the high-school graduation clock starts counting down, and then comes college. We know that for many parents, this period in life is usually very tense and stressful – but it doesn’t have to be. There are some good options around in order to prepare you to pay these costs with ease. College is a life-changing experience for your children, and you want to be ready and prepared when such time comes around.
There’s an excellent plan to save for your child’s future, and every parent should consider it. Saving for your child’s college education doesn’t have to be a drag. In fact, it can be a very simple and easy process to undertake. And the best part is – the sooner you begin, the better it is. Excellent college saving plan can be a lifesaver, especially when, as the years go by, you realize that more than half of your kids’ tuition has already been paid off. And that feeling is simply priceless.
Putting money aside for college can be a frustrating experience, however…
That’s where U-Nest comes in – we simplify the process of setting the right plan and automate each step in the process. By using the U-Nest application, you can provide your child with the bright future they deserve. For as little as $25 per month, you can help your kids achieve their college dreams.
Feel free to check out our website at: //unest.co/ for more information.
U-Nest was built to provide the best possible experience for parents, and allow them to save for their kids’ bright future with ease and peace of mind.
This material is for informational purposes only and should not be construed as financial, legal, or tax advice. You should consult your own financial, legal, and tax advisors before engaging in any transaction. Information, including hypothetical projections of finances, may not take into account taxes, commissions, or other factors which may significantly affect potential outcomes. This material should not be considered an offer or recommendation to buy or sell a security. While information and sources are believed to be accurate, UNest does not guarantee the accuracy or completeness of any information or source provided herein and is under no obligation to update this information.
