At the rate college costs are rising, you can't use today's tuition costs in your planning. You need to plan using anticipated future costs. The number of years you have to save is important in determining the kind of strategy you follow. You'll want to minimize the financial risk if your children are just a few years away from college. If you have five or more years left, there are more choices available.
Grants often go to families with lower incomes.
Loans, too, may depend on the family's level of financial need. There are no guarantees of receiving financial aid. That's why it's smart to include other options in your planning. All Rights Reserved. Inc. Bank products and services provided by Principal Bank, FDIC insured.