Paying for College

The $500,000 College Degree

And you think today’s college costs are unreasonable. Well, hold onto your hat. As Ronald Reagan used to say, you ain’t seen nothin’ yet!

A recent Forbes article by Troy Onink begins with this sobering statement:

If you want to pay for one of the top 100 colleges on Forbes Best Colleges list in 18 years, you better start saving early and often. Most of the elite private colleges today are already over $60,000 per year and increasing in total cost at about 4% per year. If you do the math, your child’s projected four-year college costs will be year 1: $121, 549, Year 2: $126,411, Year 3: $131,467 and Year 4: $136,726 equaling $521,153, or to simplify – a cool half of a million dollars!

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