Proper Investment Plans to Prepare for the Cost of Higher EducationKarin Liu
Building Proper Investment Plans Today to Prepare for the Cost of Higher Education in the Future
Constantly keeping an eye on rising trends, Investors Trust recognizes the fear of future costs and the uncertainty of planning years in advance. It is important to acknowledge these rising factors in order to properly plan today for the costs of higher education in the future:
Over the past decade, the growth in college attendance increased by 37% along with the price of tuition1
The average rate for public school tuition increased by 8% each year over the past 10 years2
The importance of obtaining a college degree is constantly advancing. For example, in 2012, the unemployment rate for young adults (ages 20-24) with at least a bachelor’s degree was 6%, compared to an unemployment rate of 18.3% for those whose highest level of education was high school completion1
With the growing number of college attendance, the competition in the workforce is intensified
The lack of assurance for reliable government funding for financial aid. Currently, the rough estimate of total outstanding student loan debt in the U.S. is $1 trillion3
Many investors aim to provide their children with the necessary reserve so they, too, can build a financially-stable lifestyle in the future. Investors Trust strives to equip clients with helpful tactics, in order to properly build a financial plan that adapts with the costly uncertainties of the future.
*Percentages are based off U.S measurements
1. U.S. Department of Education, National Center for Education Statistics. (2012). Digest of Education Statistics, 2011 (NCES 2012-001), Chapter 3.
3. Consumer Finance Protection Bureau