Walking across the stage to get that degree is a moment of celebration. But two-thirds of students graduate with loan debt and the average amount owed is $26,600, according to a 2012 report by the Institute for College Access and Success.
If your child graduates owing that amount, he or she can expect to pay roughly $150 a month on student loans for the next 20 years.
That might not sound like a lot but, consider this, the starting salary for a teacher in Texas is $34,000. Add a car payment and living expenses, and the bills start to add up.
The cost of education shouldn’t stand in the way of your child’s dreams. Here at Kenvin Financial Services, we can help you plan for the future.
Our College Savings Plans allow you to put away money for your child’s education without worrying about the ups and downs of the market. Your investment is protected against liens, bankruptcies and judgments. And if your child earns a full scholarship to college, congratulations! You can use the money however you want.
So start planning as your child dreams about the future. We’ll help you get there.