Help with College: A Gift for Your Grandkids
This week, Craig Siminski, of The Equity Design Group, shares some helpful information for those considering a gift of Financial Assistance to their Grandchildren:
College graduates generally earn more, have lower rates of unemployment, lead healthier lifestyles, and are more active citizens than those without a degree.
One estimate places the lifetime value of a bachelor’s degree at $2.8 million.
That kind of opportunity requires a substantial investment that can be overwhelming even for families who are on solid financial ground. For the 2017–18 academic year, the average annual cost for tuition, fees, room, and board was $20,770 at a four-year public university and $46,950 at a nonprofit private university.
Helping a grandchild obtain a college degree could be life-changing for the student and bring joy to you as well. However, to maximize the gift, it’s important to…
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Craig Siminski is a CERTIFIED FINANCIAL PLANNER™ professional, with more than 20 years of experience. His goal is to provide families, business owners, and their employees with assistance in building their financial freedom.
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