I'm looking for ideas on the best way to save for my little guy's college. Any ideas?
I just punched into a college savings calculator that my little dude is 2. It informed me I need to contribute $645 A MONTH for the next 16 years in order to pay for 4 years of college - which by the way - it informed me, will cost $277,827!
Are people really going to head off to college like my generation did? At that rate, I feel like more and more people ... intelligent teenagers ... will not go onto college anymore.
This whole "savings for college" website also informed me to expect college tuition to increase 6% a year, and that a college fund would earn 7%, after-tax, a year.
Seriously ... this is just nuts.
So, again I ask, what funds are people investing for college savings? Which ones are the best?
Maybe I should just teach him how to throw a mean football and go pro.