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Currently (2007), the average annual cost of a college education at a state university is $18,000 with tuition, and room and board included. By contrast, the same four year education at a private four year college averages $40,000.00 per year. If your child graduates from high school today and you have not made any preparation in the way of savings, you could be looking at the real possibility of borrowing $40,00000 per year for the next four years (or $160,000.,00 - Today), to get your kid through college. To avoid this equilibrium train wreck, one of the options you should be looking at is a Section 529 College Savings Plan.
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