Asian Journal- The Filipino-American Community Newspaper

SCHOOL days can be expensive days. According to The College Board, Trends in College Pricing 2008, the average published total charges, including tuition and fees and room and board for in-state students at public four-year colleges and universities in 2008-09 are $14, 333, and 5.7% higher than 2007-08. For private four-year colleges and universities, the same total charges are $34,132, 5.6% higher than a year earlier.

Something else to consider is the 2007 College Board Study, Education Pays, that shows people with a bachelor’s degree earn over 60 percent more than those with only a high school diploma. Over a lifetime, the gap in earning potential between a high school diploma and a B.A. is more than $800,000. That means if it’s a choice between saving for your child’s college education and getting that big-screen television, you might want to consider putting money away now.

I speak to people everyday who either have children or love someone else’s dearly. What better gift can you give than the gift of education? Most of us want our children’s quality of life to be better than our own, and you don’t have to be the parent to contribute – grandparents, aunts, uncles, and friends can contribute on behalf of a child.

Saving for college need not be challenging. State Farm offers very affordable, easy savings options you can begin taking advantage of today. The main goal is to establish a savings strategy early. By saving over time, you may not have to come up with large sums of money or take out large loans at the time college starts. Even small amounts on a regular basis can make a big difference in a child’s future.

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