Saving Money for College

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This is the VOA Special English Economics Report, from http://voaspecialenglish.com | http://facebook.com/voalearningenglish How much does a college education cost? In the United States, the College Board releases yearly reports on prices at colleges and universities. The group bases its findings on "published" tuition and fees, meaning the prices officially listed by the school. Students might pay less -- for instance, if they receive scholarships.Nationally, tuition and fees at public four-year colleges and universities rose more than eight percent during the academic year that just ended. The increase was seven percent if you exclude California. California has about 10 percent of the nation's full-time students in public four-year colleges. In-state tuition and fees averaged more than $8,000 nationally. The average total charge -- which includes housing and meals -- was $17,000. The total charge for students from out of state was $30,000. Tuition and fees increased four and a half percent at private nonprofit four-year schools. That was still higher than the inflation rate. The average was $28,500. For-profit schools charged an estimated fourteen thousand dollars in tuition and fees. That was up 3.2 percent from the year before. One way for parents in the United States to start saving for college when their child is still very young is called a 529 plan. The plans are named for the part of the federal tax law that created them in 1996. All fifty states and the District of

Published 2012-07-31 · Watch on YouTube ↗
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