Nobody underestimates the value of a good college education in today’s world. The best jobs go to graduates and as such without a degree under their belt; your child’s prospects are severely limited.
The good news is that if you are based in the U.S. or want to send your child to an American college, you may find the cost isn’t quite as daunting as you may have feared. Once scholarships and similar financial schemes are applied the average net price is significantly lower.
It is not all about scholarships. You will need expert wealth management.
Recently, CNBC broadcasted a video showing the cost difference once you applied the various financial schemes. This is illustrated below where the average net price is the figure after various schemes have been applied. The full price is shown for comparison.
Average net price: $21,031
Full-priced tuition and fees: $53,000
Average net price: $20,910
Full-priced tuition and fees: $47,600
University of Chicago
Average net price: $25,883
Full-priced tuition and fees: $51,351
Average net price: $17,882
Full-priced tuition and fees: $45,278
Average net price: $8,848
Full-priced tuition and fees: $43,450
Wealth Management from an Expert Financial Planner
It is not all about scholarships. You will need expert wealth management from a competent financial planner. This is essential, as you will need to be able to plan how you are going to accumulate the funds needed to send your child to one of the best universities in the world.
This is especially true if you have more than one child. A good financial planner can provide you with information on some of the best investment vehicles to achieve your aims. It is important to start right away if you have nothing invested up to now. Never underestimate the power of compound interest.
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To get started on your wealth management preparations to send your children to college, click here and complete the Call Back Service form. I can look at your aims, your incomes, and find the best investment vehicles to give you and your family the best possible future.