The first step toward financing a private high school or college education is to develop an education funding plan. To start, an estimate of the future cost of the education must be made by considering certain variables, such as the current age of the child, the current costs of education, including in-state vs. out-of-state tuition, public vs. private universities, on-campus vs. at home-living, and the current rates of increase of these education costs.
Then we must look at how you’ll foot the bill by first considering the availability and qualifications to receive financial aid, scholarships, grants, loans and student work-study programs.
Finally, we subtract the estimated amount your child will obtain from other sources from the estimated cost of education. The remainder will need to be paid for “out-of-pocket.” This final calculation can provide a target for an education investing program. At ELIA International Consulting Services, we can assist you through this complicated process, and can help you take the appropriate steps to best afford the education your child deserves.