Mar 27, 2019funding college,college debtSA-Articles
There are multiple options available when it comes to ways to save for college.
Due to the high projected future cost of a college education, creative strategies are needed.
Grandparents can also play an active role in helping families save for college.
Paying for college has become increasingly burdensome for American families, often saddling unprepared graduates and parents alike with high levels of student loan debt. While these issues alone are problematic, their impact on the overall financial security of American households has become even worse as families struggle to balance college costs and debts with the need to save for retirement.
Present and Projected Future Costs of Tuition, Room and Board
This guide describes a range of college savings and investment vehicles that are commonly available to families. Importantly, it also describes a wide range of tactics, some of which receive little public attention, that students, parents, and grandparents may be able to employ to help them reach their college savings goals.
Prudential surveyed students and graduates to explore how student loan debt has become a source of both financial and emotional stress, affecting a multitude of financial decisions and life events. This report shares important lessons learned and outlines action steps students can take to make smarter choices about paying for college.
Updated with new information based on the October 1, 2016 FAFSA filing changes, this guide helps families understand the different options available to fund a college education without jeopardizing the long-term financial security of parents or students.
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