The rising costs of higher education can be daunting. Today's average cost for one year at UNC Chapel Hill totals about $8,500, including room & board, books, etc. At a private university like Wake Forest, it is $28,500. Colleges HAVE begun to slow their rate of growth, and now average "only" 5% per year. Even so, if you have a newborn child, that means $88,000 for four years at UNC and about $295,000 at Wake Forest by the year 2019!

Most people hope to have that much set aside for retirement, let alone for their child's education. If you tap into your retirement accounts, there can be penalties for early withdrawal, and income taxes on the proceeds. Moreover, you would lose the additional compounding of those dollars in a tax-sheltered investment.

Furthermore, you can get a loan for college expenses; try getting one to fund your retirement! So, how can you make sure your child's educational needs will be met without sacrificing your retirement plan?

North Carolina's state sponsored educational savings plan was rated second-worst in the nation in a recent magazine article. Given this, and the federal government's inadequate programs, it's easy to see how difficult it is to create a solid educational plan. Lochinvar can help.

Lochinvar can help you to find other state programs in which you can participate. We'll also help you to evaluate new educational programs as they become available. Let Lochinvar help you to find the plans and programs that make the most sense for you and your future college student.

Contact us now for a free initial consultation.