The cost of college continues to increase, but when you understand your college funding options, you may not have to pay as much out-of-pocket as you think. Learn more about your options.
Many families in the U.S. pay about 30% for college out of pocket.1 The rest comes from a variety of sources.
The typical price of one year of college when averaging 4-year public and private school tuitions.2
$185 billion Total aid available each year primarily in grants and scholarships.1
Including 529s Over $225 billion has been saved in 529 plans.3
There are a number of federal student loan options, as well as private loans for students.
4 out of 5 college students work during college to help fund tuition and other expenses.1
Federal loans are also available to parents.
21% of parents ask relatives and friends to direct gifts to a child’s college fund.1
Your child’s education may be a priority, consider speaking to a Merrill Edge Financial Solutions Advisor about 529s and other college investment options to best meet your goals.
1 Sallie Mae “How America Pays for College” http://news.salliemae.com/files/doc_library/file/HowAmericaPaysforCollege2014FNL.pdf2014
3 Strategic Insight http://www.sionline.com/PracticeAreas/529_Industry_Analysis.aspJune2014
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