RICHMOND, Va. – While planning financially for your student’s collegiate future may seem difficult or even unattainable, a local financial professional says with proper preparation and fiscal management, sending your student off to pursue higher education is not out of reach.
“College graduates can earn up to 85 percent more income than non-college graduates. That number alone can motivate students enough to pursue their degree,” said Jonathan Kennedy Jr, President of Endeavor Capital. “However, while parents want the very best future for their children, it can seem taxing to keep up with ever-rising tuition rates, school supplies and housing costs.”
The cost of tuition in the United States averages about $15,000 for an in-state, public university. For students who want to go out of state or attend private colleges, costs can quickly escalate to $60,000 or more per year. Kennedy says using savings plans like 529s are beneficial for several reasons.
“529 plans are designed specifically for higher education planning,” said Kennedy. “Each state operates their own 529 plan, and provides different options for families to choose. It is important to speak with your financial advisor and find out what plan best suits you and your family before making an investment decision.”
Just as every student, university and degree plan varies, each family’s portfolio is unique. Maximizing your savings to help plan for college is easier with the help of a qualified financial advisor.
“There are options out there for everyone,” said Kennedy. “You just have to know where to look.”
Endeavor Capital is a local financial practice serving the needs of families, small business owners and retirees. With more than 12 years in the business, Kennedy is an experienced professional with the skills and knowledge many need to help plan for their students’ educational future.
Securities offered through NEXT Financial Group Inc. Member FINRA/SIPC. Endeavor Capital is not an affiliate of NEXT Financial Group Inc. Endeavor Capital is located at 1006 Pump Rd, Suite 202, Richmond VA 23238. P: 804.874.9531.