National Catholic Forester

Summer 2016

Issue link: http://read.dmtmag.com/i/698004

Contents of this Issue

Navigation

Page 22 of 31

Summer 2016 — www.ncsf.com 23 IT'S bEST TO START EARLy. The increasing costs of higher education have made education planning an important aspect of personal financial planning. However, because the actual expenditure will not be incurred for many years, it is often given a low current priority. Also, some parents are counting on scholarships to cover the cost of their children's education. unfortunately, this tendency to postpone the issue may eliminate several education planning strategies that must be implemented early to be effective. ESCALATINg COSTS. Although the increase in the cost of attending college has slowed down to its lowest escalation rate in years, the College Board reports that 2014- 2015 tuition and fees continue to rise at a rate faster than the consumer price index (www.collegeboard.com). All told, the cost of a college education is staggering, and this is unlikely to change. According to the College Board report, for one year of full-time study, private four-year colleges rose 3.7% (to an average cost of $31,231) from 2013-2014 for tuition and fees alone. Average total charges with room and board are $42,419. Public four-year colleges are up 2.9% (to an average of $9,139) from last year for in-state tuition and fees — room and board adds on another $9,804. Public four-year colleges are up 3.3% (to an average of $22,958) from last year for out-of- state tuition and fees. Average total charges with room and board are $32,762. Even tuition and fees at public two-year schools are up 3.3% (to an average of $3,347). The report indicates that the subsidies provided to full-time undergraduates at public universities through the combination of grant aid and federal tax benefits averaged $6,110 in 2014- 2015 — far below the actual cost of attending. Grace Smith Court 533 Scio, OR iN-COllege ReCiPieNtS are awarded $2,000 each for two years ($1,000 per year). Recipients are full-time students who have completed one full year of college. Austin Busse Court 693 Redwood Falls, MN Jacob Ganser Court 870 Fort Wayne, IN Colin Humble Court 769 Fairfax, IA Lauryn Joiner Court 391 Chicago, IL James Votel Court 594 St. Paul, MN Emily Herbison Court 1214 Portland, OR Sarah Heuberger Court 733 Sublimity, OR OCCuPAtiONAl tRAiNiNg recipients are awarded $1,000 each for two years ($500 per year). Recipients are full-time students aiming towards a two-year degree at a technical school or an associate's degree. Look for NCSF Scholarship Applications in the next issue! winners Not Pictured Jarrett Mancl Court 998 Rudolph, WI winners Not Pictured programS continued on page 25 Ian McDonell Court 1074 Athens, WI EDUCATION PLANNINg

Articles in this issue

Links on this page

Archives of this issue

view archives of National Catholic Forester - Summer 2016