Much has been written about the cost of a college education and the debt burden being placed on our children, knows Howard Pressman, CFP®.
“In fact, 2014 college graduates have the dubious distinction of carrying the highest student loan debt in history,” he says. “And, according to the Wall Street Journal, today’s grads are saddled with, on average, $33,000 in student loans — nearly twice the amount of just 20 years ago. Start factoring in advanced degrees or more expensive schools, and you can see how the cost can quickly spiral out of control.”
Watch as reporter Sonya Gavankar talks to Pressman about what parents can do to keep this from happening to their kids. Sonya asks:
1. First of all, Howard, parents have a lot of competing priorities when it comes to saving, how do you suggest they start?
2. You recently wrote about a meeting you had with the children of your clients. Tell me more about that?
3. Why do you think it’s a good idea to include children in the college funding process?
4. What’s the best way for parents to save for their children’s education?
This segment originally appeared on Channel 8's Let's Talk Live program.