What is the value of a college education?
It may surprise you that, on average, an individual with a bachelor's degree earns approximately $57,026 per year, compared to the $34,197 average yearly salary of a worker with a high school diploma. Use this calculator to see the value of a college education.Source: U.S. Census Bureau, American Community Survey, 2006-2008.
Education Planning: Getting Started
Many people put off planning for their children's educations until the kids are well into their teens. Often, they discover they've waited too long. With a late start, they have little time to accumulate the assets they need, and miss the chance to plan opportunities to maximize available financial aid. Ideally, the best time to begin planning for your children's education is the day you learn you're going to be a parent.
There are many factors to consider when planning for your child's education. These include whether you favor public, private, parochial, or home schooling, and how to pay for education. Many families even plan where to live by choosing which primary and secondary school districts their children will attend. Then there's higher education. College or trade schools?Click here for full article
- Current ageThe age you plan to begin working.
- Anticipated annual income The gross annual salary you expect to earn if you do not earn a college degree.
- Anticipated annual income The gross annual salary you expect to earn if you obtain a college education.
- Retirement ageThe age you plan to stop working.
- Annual salary increases The rate at which you expect your salary to increase if you do not earn a college degree.
- Annual salary increases The rate at which you expect your salary to increase if you do go on to earn a college degree.
This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. The calculations do not infer that the company assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.