When deciding to have kids of your own money and a long term finical commitment will be needed whether you want to or not. The average cost to raise a child to the age of eighteen cost around 300k according to data released by the U.S. Department of Agriculture in August 2014. This totally does not include the outrages cost for a college education. There are many ways to save money like going to a two-year technical college, or financial plans that give you support but even then a two-year college has its positives and negatives compared to a four-year degree. This with many other reasons such as student debt rising and equal opportunity decreasing should give the government incentives to make a plan to lower tuition costs. The cost of a
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Some positive outcomes of going to a community college are that the price is right. In the 2015-2016 a student for a school year will pay on average $3,000 on room and board at a community college, versus the $10,000 for a public in-state four-year university; or end up paying $31,000 for an in-state private college (saving for college, …show more content…
This can save an additional $10,000 by not paying for an apartment or the dorm living (Flynn, 2015). A 529 plan is a way that parents can start a college funding money for children at a younger age. The 529 plan is a tax-advantage plan that is designed to promote saving for a post-secondary education, and 529 plans are sponsored by states, state agencies, or education institutions to lessen the cost of college (Investor publications, 2014). Students can use your 529 money can be drawn tax-free for a post secondary school, including a two-year community college (Green, 2014). The 529 plan can pay for a community college, or if you can afford the community college you can save the 529 for the more expensive four-year schools (Green, 2014). Although there are many pros in attending a community college there are some cons, such that there is a limited curriculum and why many students transfer to a four-year college. Also it is much harder to get involved at a community college and don’t experience the “college life” (Green, 2014). After spending all this money and two to four years of your life getting a degree many people don’t know how to begin to pay off their student debts or how to apply their degree to get a
Some positive outcomes of going to a community college are that the price is right. In the 2015-2016 a student for a school year will pay on average $3,000 on room and board at a community college, versus the $10,000 for a public in-state four-year university; or end up paying $31,000 for an in-state private college (saving for college, …show more content…
This can save an additional $10,000 by not paying for an apartment or the dorm living (Flynn, 2015). A 529 plan is a way that parents can start a college funding money for children at a younger age. The 529 plan is a tax-advantage plan that is designed to promote saving for a post-secondary education, and 529 plans are sponsored by states, state agencies, or education institutions to lessen the cost of college (Investor publications, 2014). Students can use your 529 money can be drawn tax-free for a post secondary school, including a two-year community college (Green, 2014). The 529 plan can pay for a community college, or if you can afford the community college you can save the 529 for the more expensive four-year schools (Green, 2014). Although there are many pros in attending a community college there are some cons, such that there is a limited curriculum and why many students transfer to a four-year college. Also it is much harder to get involved at a community college and don’t experience the “college life” (Green, 2014). After spending all this money and two to four years of your life getting a degree many people don’t know how to begin to pay off their student debts or how to apply their degree to get a