When should you start preparing for your child’s college education?
The average college cost for a 4-year public college is $12,796; and a 4-year private college will cost, on average, $30,367.* With total costs for both public and private schools increasing at a rate above inflation, most experts suggest you start saving for your child’s education at birth.
That's why MCU is prepared to help you and your child achieve their educational goals. One of the best ways to get started is with an MCU Coverdell ESA. This is a special savings account that allows a parent, grandparent, or guardian to contribute up to $2,000 per year on behalf of their child or grandchild. The sooner you open one, the more money your child will have when it's time for college.
If your child is already in high school, MCU has come up with a number of ways you and your child can prepare to pay for college:
See an MCU Representative and ask how MCU can help you and your child finance an important step in your child's future or visit us online at www.nymcu.org.
* Source: College Board