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How to Save for Your Kid's College Tuition If You're Not Felicity Huffman or Lori Loughlin

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The cost of a college education is higher than ever -- just ask Felicity Huffman and Lori Loughlin. Those two celebrities are among the well-heeled parents caught up in a now-infamous "Operation Varsity Blues" college admissions scandal. You know what this is: The whole nation has been gobbling up news reports about the $25 million scheme for the past week.

Related: This Business Owner Is Paying for His Employees' Kids to Go to College

Perhaps as an entrepreneur and ordinary civilian, you yourself have felt the pain of getting your son or daughter admitted to college, then figuring out how to pay for it. The latter task is particularly tough: Over the past 10 years, the average price for tuition and fees at four-year private colleges and universities has jumped to $34,740 a year, up more than $7,000, according to statistics from the College Board.

Furthermore, for college graduates, on average, annual tuition has totalled nearly $30,000 at public colleges and $40,000 at private schools, according to Peterson's blog.

If you want to make sure that neither you nor your child ends up with piles of crippling student loan debt, you’ll need a comprehensive savings strategy to help bridge the gap between inadequate finances and rising expenses. Fortunately, there are several different methods to help you do that.

By choosing one that works for you and your family, you can come up with an approach that will give you the best possible chance to afford tuition and let your offspring leave........

© Entrepreneur