Retirement Shortfall Risk Making College Saving Tougher, Even for Affluent

RETIREMENT SHORTFALL RISK MAKING COLLEGE SAVING TOUGHER, EVEN FOR AFFLUENT

Financial planners are helping affluent families confront a financial quandary that most families didn't face 30 or 40 years ago: How to plan for both their retiremnt and their children's college tuition. 

National studies show that most Americans run the risk of running out of money in retirement thanks to the combination of factors, which include record unemployment, declining wealth, low savings rates, investment losses and falling home values. For more click here.

Courtesy of Financial Advisor and Virginia 529

Saving for college: Tips on 529 plans, scholarships

Saving for college: Tips on 529 plans, scholarships

In today's economic environment, many parents may decide to start their child's college savings account at birth.  Here's why.  A year of tuition and fees at the average four-year private college cost $28,500 in the 2011- 2012 school year, says the College Board. To find out more click here.

Courtesy of USA Today and Virginia 529

Lowering College Costs—To Live at Home or Not To Live at Home?

That is the question if your child is considering staying on campus during college, and if you will have to pay for them to do so. Certainly, living on campus would be a great experience for your child—but really think about if you can afford it. Washington Post columnist Michelle Singletary revisits how to lower college costs and urges parents to reconsider what costs are truly necessary. The decision to attend college is a major one that affects not just your child’s life, but yours as well—emotionally and financially.

What are your thoughts on the on-campus versus off-campus experience? Is it worth the price? Let us know—we’d love to hear from you!

And don’t forget, if you are a parent it’s never too early to start saving for college. Join Virginia Saves today!