Many parents put off education funding because they believe the task is overwhelming, or they think saving the required amount of money will force them to compromise their current lifestyle. While these may be legitimate concerns, they need not hinder you from establishing and maintaining an effective college funding plan. Whether considering a public or private college for your child, the key to effective planning is to begin as early as possible.
One way to get a jump start on your child’s future could be to research participating in a state-sponsored prepaid tuition plan. Some states offer programs that may allow you to purchase future college credits at today’s prices. It may be worthwhile to investigate whether your state offers such a plan. However, it is important to consult a college financing professional for guidance in this matter, and to carefully review the specifics of your state’s plan to determine if it is a viable option for you.