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Start Saving Today > Why Save for College



We make it easier to save for your child’s future
CollegeAdvantage is an investment for a lifetime – the gift of a college education opens the door to a world of opportunity for your child. Fortunately, you don’t have to give up your life savings to afford it. With CollegeAdvantage, saving a little at a time can make a big difference down the road.

Consider college an investment
According to a 2007 College Board Study, Education Pays, people with a bachelor's degree earn over 60% more than those with only a high school diploma. Over a lifetime, the gap in earning potential between a high school diploma and a bachelor's degree is more than $800,000.

Keep college costs in perspective
While it’s true that the total cost of attending college continues to increase, most colleges are more affordable than you think. Some of the college price tags you hear about can be overwhelming -$35,000 or more for yearly tuition and fees. However, about 56% of students at four-year schools pay less than $9,000 for tuition and fees. The net price the average undergraduate pays for a college education is significantly lower than the price indicated by the published tuition and fees. 

Other forms of financial aid will further reduce the amount your family will actually pay. Financial aid is intended to make up the difference between what your family can afford to pay and what college costs. While over half of the students currently enrolled in college receive some sort of financial aid to help pay college costs, it’s important to save what you can to contribute toward the expected family contribution and to reduce the needs for loans to pay for college. Most financial aid comes in the form of loans, which is aid that must be repaid.

Note: Cost and aid figures are from the College Board's Trends in College Pricing 2008, Trends in Student Aid 2008, and Education Pays 2007.

The average cost of one year of tuition and fees for students entering school in academic year 2008-2009

• $2,402 – average tuition and fees at public two-year colleges nationwide.
• $8,588 – average tuition and fees at a public four-year university in Ohio.
• $6,585 – average tuition at public four-year universities nationwide
• $22,461 – average tuition at private university in Ohio.
• $25,143 – average tuition at a private university nationwide
•  $36,120 - 4 years at a public university in Ohio.
•  $103,700 - 4 years at a private university nationwide.

 


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