Why Save for College
Reason#1: More Career Opportunities
Post-secondary education at a technical school, vocational school, community college or a 4-year university can qualify your child for more higher-paying jobs and careers that are not obtainable without a degree.
The skills and knowledge that your child acquires in college can be transferred across jobs and a variety of careers. Below is a list of skills taught in Texas colleges that can lead to different job opportunities.
Reason #2: Higher Earnings
On average, a community college graduate makes $243,412 (before taxes) more than a high school graduate over a lifetime. 1
A 4-year college graduate makes on average $790,088 (before taxes) more than a high school graduate over a lifetime. 1
A college education can provide access to jobs with higher wages, allowing your child the opportunity to be financially secure and able to pay for all their living expenses after graduation.
Reason #3: Increased Financial Security
Stable employment and higher earnings can help your child build financial security over time.
By saving for a college education now, you are enabling your child to take that first step toward financial security and a higher-paying job in the future.
Reason #4: Rising College Costs
By 2030, tuition and fees for a 2 year in-state public associate’s degree could cost approximately $19,515, if costs continue to rise as they have over the past 30 years. 2
Financial aid options are available to help pay for college, including grants, scholarships, and loans. Unfortunately, those options may not be enough to cover the full cost of college. You can start saving for college now to help cover at least a portion of the future costs of your child’s college education and to reduce the amount of loans needed.
1 RAISE Texas Analysis of BLS Statistics 2012<http://www.bls.gov/emp/ep_chart_001.htm>
2 Collegesavings.org, 2013 College Cost Calculator, assuming 6% tuition inflation rate
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