Saving for your child’s college education, it’s on the the to-do list, right? I am guessing it is. That’s where it is for our baby girl. Hopefully int he near future it will work it’s way off the list and we will get started. If you are considering getting started, be sure to check out the Gerber Life College Plan.
Of course, while we all hope our kids go to college one day, realistically we know that might not be the path they choose. So one great thing about the Gerber Life College Plan is that it offers the flexibly of using the money saved for any purpose whether that is tuition and books, a car or a jump start on life. That’s pretty handy if you ask me.
One of the most helpful things I found on the Gerber Life College Plan is the planning widget that helps you figure out how much you would need to save (with Gerber Life College Plan) per month based on the age of your child. After you put in your initial info and get a recommendation, you can adjust the sliding scales to either save more/less money per month or to save more/less money ultimately. For example, I put in my child (under 1) and the scale recommends that I save $74.80 per month (in a Gerber Life College Plan) to have $21,000 in 18 years. Since another chart I found on the site says that a four-year degree currently costs $26,700, I adjusted the scale to see what I would have to put away each month to have $30,000 in 18 years (since I am sure prices will go up) and I found out I would need to put away $106.85.
Of course, the sooner you start the lower your payments will be. So I guess I need to work on that to-do list ASAP!
Giveaway – This giveaway has ended
Disclosure – I was provided promotional product for my time, however, all thoughts and opinions are my own.