Investing in a college education for a child is a smart decision. People with a bachelor's degree earn nearly twice as much on average than those with only a high school diploma. Over a lifetime, the gap in earnings potential between a high school diploma and a bachelor's degree (or higher) is more than $800,000¹.

Investing in a college education can cost thousands of dollars, with private universities typically costing more than public universities or colleges. While tuition in higher-priced institutions can exceed $30,000 a year, the average tuition is well below that amount.

• About 56% of college students attend four-year colleges where tuition and fees are less than $9,000 a year.
• The average cost (tuition/fees) of a four-year public college or university is $6,185 (a 6.6% increase from last year)¹
• The average cost (tuition/fees) of a four-year private college or university is $23,712 (a 6.3% increase from last year)¹

Paying for a college education
The good news is that there are more ways than ever before to fund a college education. The key is to start planning and saving now, no matter what the child's age. A good college-funding plan could include the following components:

• Personal savings and investments
• Financial aid programs
• Federal tax breaks
• State college savings programs

Because most students are able to take advantage of some form of financial aid, very few students pay the full college tuition. In fact, more than 60 percent of full-time students receive some type of financial aid¹

Consider contacting an investment professional about developing a college-funding plan and take the first step in ensuring a secure financial future for a child.

For more information on college savings plans, including their uses, drawbacks and how we can help, please consult the links to the right.

(1) www.collegeboard.com 2007-08 College Costs: Keep Rising Prices in Perspective

NOTE: Please consult your tax professional regarding your specific needs.