The real expense of educating children has become one of the greatest financial burdens facing parents today. A college education was once a privilege reserved for aristocrats. The value of a college education is higher today than ever before. The demands of our global economy over the years will be for more educated people. Between 1993 and 2003, there was an increase of 40% of college graduates, bringing it to 40,621,000 per the National Science Foundation study.
In current times, employers are looking for increasing amounts of education to compete for today's jobs. Except for the purchase of a home and the accumulation of assets for a retirement fund, paying for higher education is one of the highest priorities and also one of the most expensive, that parents will ever make.
Excerpted from the College Board website, the education costs have experienced extraordinary inflation year over year.
SECTOR | 2008-09 | 2007-08 | % CHANGE |
Public 2-Year | $2,402 | $2,294 | 4.7% |
Public 4-Year | $17,452 | $16,586 | 5.2% |
Private 4-Year | $25,143 | $23,745 | 5.9% |
*excerpted from www.collegeboard.com
There is going to be a greater need and better planning to provide the education needed to compete successfully in the workforce of tomorrow. In later posts, I will discuss the various options to create a college fund.
Wishing You Wealth in all its Greatest Forms,
Alex
No comments:
Post a Comment