🎓💰Planning for College in 2035: Are Families Ready for the True Cost?
Financial planning for higher education is extremely important and often comes at a tradeoff with retirement planning. While doing research for my clients and creating models in their financial plan, here are some of my takeaways.
By 2035, the projected total cost of a 4-year degree (including tuition, fees, room & board) could reach, according to MEFA.org:
➡️$330,000+ for private colleges
➡️$140,000+ for public in-state schools
➡️ Even more for top-tier or out-of-state institutions
That’s assuming just 3% annual cost inflation from The College Board’s Trends in College Pricing — which many colleges have historically exceeded.
📊 When creating a plan, this creates a challenge and an opportunity.
✅ Help families start early with 529 plans and other tax-advantaged vehicles
✅ Model realistic cost projections and savings gaps
✅ Weigh ROI: Not all degrees offer equal financial returns
✅ Discuss alternatives: community college, scholarships, employer-sponsored tuition, or even skipping college in favor of skill-based training
💡 Education is often the second-largest lifetime expense after retirement. But unlike retirement, the timeline is fixed — and fast approaching for many.
Let’s talk strategies. 👇
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The opinions contained in this material are those of the author, and not a recommendation or solicitation to buy or sell investment products. This information is from sources believed to be reliable, but Cetera Wealth Services, LLC cannot guarantee or represent that it is accurate or complete.
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