September 23, 2013
Tip # 18: Saving is a better option than student loans
The average student loan debt is more than $27,000. Though low-interest loans are often available for college financing, paying even small amounts of interest can add up considerably over long periods of time, making saving a better option.
Tip # 19: Define your saving goals
Define your saving goals to help establish how much you should save and measure your progress. Think about how long it will be before you need your 529 savings in deciding which plan is best for you.
Tip # 20: The savings you make today will pay off in the future
Although it is difficult at the time, the savings you make today can pay off in an increased earnings potential in the future. According to the U.S. Census Bureau, college graduates earn an average of $1 million more than high school graduates during their careers.