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Message
re: 529 Plans and Future Child Education
Posted on 11/13/15 at 12:49 pm to Tigerstudent08
Posted on 11/13/15 at 12:49 pm to Tigerstudent08
quote:
I guess I will start putting $2400 per year in there. I'm sure after 18 years that should pay for any college in the state even at current rate increases of 6% b
That is $43,200. Would barely cover 4 years of tuition.
1
Posted on 11/13/15 at 12:52 pm to JamalSanders
quote:
JamalSanders
quote:
That is $43,200. Would barely cover 4 years of tuition
Failed math? The $43,200 is the amount he would contribute over the 18 years. You are completely ignoring compound interest and the states matching benefits percentage.
ETA
200/month for 18 years at 4% interest = $68361
200/month for 18 years at 6% interest = $85140
This post was edited on 11/13/15 at 12:57 pm
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