This is a segment of Bautis Financial’s college planning series, which includes webinars, podcast episodes, blog posts and downloadables to aid college-bound students and families in the admissions process. Visit our college planning hub for more valuable resources.
Our children get report cards at school that show how they are progressing with their learning. As parents, we should get a progress report that shows how we are saving for our children’s college education.
To accomplish this, we create an annual report that projects what percentage of college expenses a client can cover, based on:
- The expected cost of college in the future.
- How much money annually is being saved to their college fund.
- The projected annual return of the college fund.
The report also shows what options are available, such as a projection to cover a higher percentage of your child’s college costs. Options could include:
- Increasing your annual savings to the college fund.
- Saving a lump sum now to the college fund.
- Having your child attend a more affordable school.
For the projection, we can use the expected tuition cost of any college. But, for most reports, we use the average annual cost of all private and public schools in the United States.
Begin your journey of mastering the college admissions process with Bautis Financial. Whether you’re a parent or guardian, student or school counselor, book a free consultation to discuss how our financial advisors can be a college planning resource.