We can help you get started

Chances are you haven’t saved enough for your child’s college education and you know it.
The good news is that you’re not alone in facing the sticker shock of a college degree.

Ideally, you should start your educational nest egg as soon as you bring your newborn baby
home. You’ll need that much time just to keep pace with the rising cost of higher education,
which today packs quite a wallop. The current average annual cost for tuition, fees, room,
board and books at a four-year public school is $14,300. That amount doubles to $33,300
a year for a private university and triples to $43,700 for Ivy League schools, according to
data from the College Board.

That means you should be saving $386 a month for your baby just to meet today’s costs
for a public college. Today, the monthly savings goal if you have...

You can imagine how much more you’ll actually have to pay when your child is ready to
attend college.

College is an investment, not an expense
Feeling anxious? Take a deep breath. We can help you get through it. First, you’ll need to
change your perspective on saving for college. Instead of considering it an expense for
years to come, think of it as an investment in your child’s future earning potential.

According to the U.S. Census Bureau, the average male college graduate between the ages
of 25-34 in 2004 earned 69 percent more than the average male who completed only high
school or had a General Education Development (GED) certificate. Among women the same
age, those with college degrees earned 73 percent more than non-college graduates.

That difference in pay between college graduates and high school graduates is certainly
worth the investment. And we can help you get started.

Create a plan that fits
There is a wealth of college funding sources available to you, from tax-advantaged savings
plans and financial aid to student loans, grants and scholarships — plus those well-timed
personal checks from grandpa and grandma. Do your research and create a college savings
plan to fit your needs.

Start with establishing a college savings goal. With that figure in mind, we’ll be able to help
set things up. Travis Credit Union offers trusts and custodial accounts for paying qualified
educational expenses for students up to age 30. Our Coverdell Education Savings Account
(CESA) is an ideal way to save for tuition, fees, books, supplies and equipment. We also
offer a Coverdell Education Savings Certificate, that yields a higher rate of return on a
minimum deposit of $500.

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