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College Funding

If you have young children or plan to have children, the importance of long-term funding of college costs cannot be overstated. It may be appropriate for you to review the concept of dollar cost averaging on page 73, which provides for a long-term funding strategy. This concept emphasizes the importance of investing early and the compounding effect of money. You may also want to refer to the compound interest tables contained in Appendix B.

College costs have increased at a much higher rate than inflation for the past several years. Although the rate increase has slowed recently, college costs are still predicted to outpace inflation in the future. Financial aid for higher education, once a concern of low income families only, is now needed by almost everyone.


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