CuVantis Education Series

Education Funding

It’s hard to quantify the full value of an education, but U.S. Bureau of Labor Statistics (BLS) data consistently show that, in terms of income, education makes sense.  According to a 2018 report* by the BLS, those with a bachelor’s degree on average make almost $24,000 per year more than those with a high school diploma.  ($61,000 per year versus $37,000 per year.) But with the average annual cost at a public, in-state university now exceeding $25,000,** many families struggle with how to pay for a college education.  Thankfully, help is available.

Where to start

One of the first questions you might ask yourself is, “What do I feel is my responsibility to provide for my child?”  Some may feel it’s their responsibility to fund all the way through medical school at a private university, while others may feel that providing room and board while their child attends a local college is enough.  There is no right answer here as every parent needs to answer this question for themselves.

One good place to start however may be by visiting the website This will begin to give you an idea of how much college will cost and provides other useful information regarding financial aid, grants & scholarships and loan programs.

Our College Savings Calculator can then give you an idea of how much you might need to begin saving on a monthly basis depending on your goals. The key to education funding, just as with any financial goal, is to start early.  The longer your timeframe, the less you’ll need to save each month.  That’s not only because you have more months to save, but also because the earnings on your savings can contribute more to the final amount.  As the Time Value of Money chart below shows, accumulated earnings can account for a significant portion of the total cost if given a longer time to grow.

What are 529 plans?

A 529 Plan is an education savings plan operated by a state or educational institution designed to help families set aside money for future college costs.  They come in two basic types:  Prepaid tuition plans, which allow an individual to prepay a student’s future tuition and fees at today’s rates; and college savings plans, which allow individuals to contribute to an account established to pay a student’s qualified higher education expenses at any eligible educational institution.

To find out more please complete the form below to request an appointment with one of our advisors.

The information presented here is for educational purposes only and should not be considered financial, tax or investment advice. Please consult a qualified professional.


* Elka Torpey, “Measuring the value of education,” Career Outlook, U.S. Bureau of Labor Statistics, April 2018.

** CollegeBoard, “Trends in College Pricing, 2018”

REQUEST MORE INFORMATION Below or Call (619) 535-7680