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Prepare for the rising cost of college.
How much do you need to save?
Your loved one will be ready to leave the nest before you know it, which means it’s crucial to start saving for their education. As the cost of college continues to climb, you can help them rise to the occasion by setting savings goals now.
The cost of college is rising.
In 2021-2022, the average published tuition and fee price for full-time in-state students at a public four-year institution is $10,740. 20 years ago, the average cost was $5,720.1
College costs are rising Type of School 1991-1992 2001-2002 2011-2012 2021-2022 Private Non-Profit Four Year $19,360 $26,380 $33,320 $38,070 Public Four Year $4,160 $5,720 $9,890 $10,740 Public Two Year $2,310 $2,440 $3,550 $3,800 The value of education.
Despite the rising costs, saving for your loved one’s postsecondary education is still a wise investment. Studies show the further an individual goes in school, the more opportunities and earning potential they will have down the road. That’s why investing now can pay big dividends later.
This return does not represent any particular investment and does not reflect the impact of fees or expenses, if any.
This graphic is for illustrative purposes only. Actual returns will vary.2
The more you learn, the more you can earn.
Earn more by going to college Education Level Earnings Less Than a High School Diploma $642 High School Graduate $793 Some College or Associate Degree $914 Bachelor’s Degree $1,355 Advanced Degree $1,636 Median Weekly Earnings2
(of full-time workers)
Investment Amounts Down the Road Monthly Contributions 5 Years Invested 10 Years Invested 15 Years Invested 18 Years Invested $50 5 Years Invested: $6,623 10 Years Invested:$11,914 15 Years Invested:$18,704 18 5 Years Invested:$23,670 $100 5 Years Invested: $10,037 10 Years Invested: $19,710 15 Years Invested: $32,125 18 5 Years Invested: $41,203 $250 5 Years Invested: $20,281 10 Years Invested: $43,100 15 Years Invested: $72,385 18 5 Years Invested: $93,802 $500 5 Years Invested: $37,353 10 Years Invested: $82,082 15 Years Invested: $139,486 18 5 Years Invested: $181,466 Start saving as early as possible.
Saving for your loved one’s education is even wiser when you start investing now. By getting ahead, you’ll have a solid foundation of savings that’ll grow on its own. Don’t believe it? Here’s an example of how much you can potentially accumulate with NEST based on an initial $2,500 investment and different monthly contribution amounts.
Assumed annual return at 5%.3
