Saving for College
Funding an adequate retirement and sending your children to college are two of the biggest financial commitments you can make. However, properly planning for major life events like these doesn't have to be a chore.
Most investors recognize they need to save money to attain their financial goals; however, few have a clear understanding about how much money they will really need, or how to plan for the curve balls that life may occasionally throw.
Few can say for sure what future education costs will be, but the projections are staggering. According to the National College Resource Association, parents contemplating enrolling their children in a public college in 2017, for instance, should plan on paying more than $115,000 for a four-year degree. Those considering private schools should plan on spending more twice that amount - $245,000, according to the NCRA. Fortunately, recent tax law changes now make it easier than ever to start saving for your child's education. Voya urges parents to start investing now. Our College Funding Calculator, may help you estimate college costs for your loved ones.