Saving for your child’s college fund is becoming an increasingly daunting task as time wears on and tuition gets more expensive. It seems like no matter what we hear in the news or who’s in the White House, the cost of a college education goes up every single year, with little or no end in sight. That’s bad news for those of us raising young kids and trying to give them every opportunity to succeed. We want them to have the same chance that we had to get a college education, and perhaps even more so if we didn’t have that education. The problem? It seems as though racking up college debt is becoming more and more unavoidable.
Yet even if we aren’t paying off college debts ourselves, anticipating the cost of a college education by the time our three year old is 18 is staggering to say the least. It’s enough to make a parent consider alternative options; something many have already done, or will do when their child graduates high school. The most difficult aspect is understanding the big picture in terms of the history surrounding this issue, and what we can expect to happen in the future.
The infographic about college debt below is sobering, but it does a good job of showcasing the process from beginning to end, and giving us all the stats about what we can expect when our little ones are not so little anymore and ready to go to college.
College Debt Infographic:
We hope you were able to learn more about the history of student loans and the college tuition costs from this infographic by Consolidated Credit. You can never be too prepared for the costs of higher education as there will always be extra costs from school fees to textbooks.
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