Today? The average cost of a four-year private institution is over $32,000. For a state university, you're talking $16,000 as a resident and $23,000 for a non-resident.
So, I'm thinking by the time my kids are ready for college we'll need a cool $65 or 75,000 per year. Ouch!
In addition to some traditional saving methods, we are also saving with Upromise. Every time you buy something from a Upromise contributing company like Gap, Lands End, McDonalds or a slew of other retail, auto, travel or grocery stores, a portion of your purchase price will be contributed to your Upromise account. You then may choose to link your Upromise account to a 529 savings plan.
To help you save even more, you can invite family members and friends to also join Upromise and contribute into your account. Upromise will even send out an "invitation" to everyone you know. Joining is free and it takes no time at all.
And, that works for me! Visit Shannon at www.rocksinmydryer.typepad.com for my great tips and ideas.
tag: Works for Me Wednesday
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5 comments:
This is an excellent tip and thanks bunches!!
The cost of higher ed is just staggering, isn't it? I guess they're all leaving school in debt up to their morter boards now?
I followed the link and bookmarked the site - I'm going to check it out. Maybe this is something we can do once we have our Ethiopian babies home.
We do Upromise but I think we've only saved $5. I guess I need to spend more to save more!
Gina,
The quickest way to save money in your Upromise account is to get their credit card. Then every purchase you make gets credited to your account.
We've been participating in Upromise for two years and have saved about $600.
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