Wednesday, July 25, 2012

College Savings Calculator

This year, Ben and I are starting a business, Ideal Lending, LLC.  We have been funneling all our resources into it, saving only up to his company's match in our retirement fund.  I hadn't even started to think about college for Cadence.  I guess since BYU was so inexpensive for us, I hoped it would always be that way.  I just ran the numbers on MSN Money's College Savings Calculator and while BYU will still be relatively inexpensive, we have to start saving as soon as possible.  It looks like college will be $50k for the 4 years, so that has us investing $1254/year for the next 18 years.  

Anyone else started thinking about meeting rising college prices?  What is the damage for your local school tuition in 18 years?


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