Planning for your children’s college education: top things to know.

1. Estimate the cost based on when your child will start college.

You can start by reviewing the typical university costs table. These costs vary, depending on whether the institution is a state-funded school or a private school, and the current cost of living in the university’s location. Your estimate will have to include cost for tuition, books, room and board, and other miscellaneous expenses.

2. The sooner you start saving, the better.

Even modest savings can contribute significantly if you give them enough time to grow. Investing just $100 a month for 18 years will yield $48,000, assuming an 8 percent average annual return excluding any fees.

3. Evaluate your timing and choose a plan.

Your child could be ready for college in 5 years, 10 years, 18 years or more. The sooner you start planning for their education, the less you will have to invest every month towards your goal. With 18 years to go, choose an regular contribution plan and keep the commitment as planned. With 10 years to go or less , you may want to consider starting with a single contribution plan and make optional additional contributions as your personal finances or rising salary will allow. Understand whether you choose an annual or a single contribution plan, you can contribute a little more to your plan at any time in order to achieve your goals sooner.

4. Funds which invest in growth stocks are a good choice for your college savings.

With tuition costs rising faster than inflation, a plan concentrated on growth stocks is a smart way to build enough savings in the long term. As your child approaches college age, you can shelter your returns by switching to funds with a more conservative style.

5. You don't have to save the entire cost of four years of college.

There are several several government and private grants and loans available for international students which can be help you pay the difference between your savings and the tuition bills. You can find out information about the programs at the university you choose.

6. Saving for your own retirement is more important than saving for college.

Your children will have more sources of money for college than you will have for your golden years, so don't sacrifice your retirement savings.

7. With mutual funds, investing for college is simple.

Investing in mutual funds offered by APT puts a professional in charge of your savings so that you don't have to watch the markets daily.

Regardless of how many children you have, how much or little you have saved, American Premier Trust can help ease the financial burden of paying for a college education!