Most of us are familiar with 529 plans and the concept of saving for college expenses ahead of time. But as student loan debt continues to grow exponentially, it’s important to really understand why saving ahead of time can be such a money-saver in the long run. This graphic shows the difference between money spent for a four-year college education when saving in advance versus taking out loans. Even a small amount saved each month can add up, thanks to compounding interest working for you.
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