Are Your Grandkids College-Bound Someday?
* College students graduate with an average debt of $12,500.
* College expenses have increased at three times the inflation rate.
* Eighteen years from now a public collage education will cost $100,000
and a private college education will cost $210,000.
State College Savings Programs
"Today 42 states have [state college savings] plans and eight more will roll out
versions within a year."
U.S. News & World Report March 1, 1999
"The best college-savings program you never heard about keeps getting
better. As you think about year-end tax moves, consider dropping some cash into
a state-sponsored plan where money for college grows tax-deferred and may
garner a fat state income tax exemption as well."
Time January 5, 1999
"The best potential deals for parents or grandparents are prepaid tuition plans."
Newsweek September 7, 1998
"The new Education IRA has gotten all the press. But state by state, a
better savings opportunity is quietly emerging for parents or
grandparents saving for a youngster's future college expenses."
Kiplinger's Personal Finance Magazine May 1998
[* Residency not required]
[** Residency required for prepaid tuition program but not for savings program]
[*** Residency required but details vary from state to state]
New York *
North Carolina ***
South Carolina ***