Worrying about college costs? Join the crowd. College expenses can be pretty overwhelming and the best way to make sure your child will be able to go to college is to plan for it.
"The first key is to start saving early and the second is to contribute regularly," Security Trust and Savings Bank President David Dvergsten said. "I know it's easier to say than to do and it takes discipline, but as soon as it's possible it's the way to get started."
Many parents may not be able to save the full amount of a college education, but they can make a reasonable effort at saving enough for a down payment like most do when buying a house or a car.
The College Board reports that the average cost for a public college is $10,458 and $22,533 for a private college or university.
While college costs are rising, the rate of increase has slowed, according to a study released by the College Board. College tuition costs increased five percent annually on average for the last three years, according to the College Board.
At a four-year public school, room and board this year averages $4,730 or $280 more, a 4.6 percent rise. At a private, four-year college it averages $8,583, a $210 hike, or 4.8 percent more than last year.
Read the rest of this story in the 10/5 Pilot Tribune.