There are many reasons why parents put off saving for their child’s college education – but not many good ones. The decision to delay – or worse, not to save at all – is often driven by one or more myths or misconceptions about preparing for college costs.
These myths stem from concerns about hefty college costs, including the belief that tuition bills will be insurmountable, a lack of knowledge about the financial aid process and a misunderstanding of the impact that college savings – of any amount – can have on a family’s out-of-pocket costs when funding a college education.
However, once you know the facts, your perception about the true cost of college and your ability to afford it will likely improve. Starting early and saving often can make college affordable for many families.
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