Patent ID: 6424952
Filing Date: 2002-07-23
Classification: G06Q

Abstract:
A method implemented by a provider for providing to a customer means to pay for total future educational expenses to enable the customer's beneficiary to attend any institution of higher learning, said method implemented by said provider comprising the steps of:a. determining current educational expenses; b. reviewing past changes in educational expenses; c. calculating future educational expenses based on current education expenses, past changes in educational expenses, and assumptions on annual increase rates of educational expenses; d. establishing a target for future total investment payout for total future educational expenses based on calculated future educational expenses, and assumptions on expected investment yields; e. deriving present investment amount needed to provide future educational expenses; and f. purchasing by said provider insurance to provide cushion money to cover investment short fall and assure to said customer a guarantee that the total future educational expenses will be paid to attend any institution of higher learning.