April 3rd, 2008 by john 
in Categories: 
This just in! The cost to send your new born to an in-state public college 18 years from now will be at least $163,890. This according to the college calculator at money.com. This is the estimate for a 4 year public college, nothing special, not ivy league. Are you as shocked as I am?
So What Can You Do?
Start saving. And saving. And saving. Now, don’t go overboard. I know you want to give little Suzie that great gift of college, but not at your own expense. You don’t want to sacrifice your own needs, mainly retirement, so you can send her off to college. Remember, your children can take out loans for education, you can’t (or shouldn’t) borrow for retirement.
Real Savings
If you have been reading my blog, you know that I have written about Upromise.com as a viable method of saving some extra dough for your children’s education. Upromise is a free service that helps families earn extra money for education. As I have stated in the past, I have been a member since January 2003. Our savings to date totals $1,480.57. This is real money people!
529 College Savings Plan
We have our accumulated funds swept into our 529 College Savings Plan quarterly. I check our account every once in a while to make sure we are credited properly. There is really nothing else to do. No strings, no complicated paperwork. That’s it.
How It Works
Whenever I need to purchase something, I check the Upromise website first. It works like many other comparison shopping sites, listing your item by store and the cost including shipping. This ensures you are getting the best possible price. Once you have selected the item, you pay with your credit card and within several weeks you will see the savings post to your account. You will earn from 1% to 25% in college savings from Upromise partners when you shop online or in-store, eat out, buy groceries, or travel. All things that we do anyway.
The Savings Just Got Bigger
Upromise informed me yesterday that they are running a special promotion for the month of April, 2008. Simple join for free, confirm your registration, shop online before April 30th and you will receive a $10.00 credit to your account. That’s FREE money! It doesn’t get much better than that!
Sign Up Here For Your $10.00 Bonus Savings!
In Conclusion
So go ahead and check it out! I don’t make to many personal recommendations. The only reason I am willing to make such a strong one for Upromise is because of my 5 year history with them. It has been a very beneficial relationship from my side of the table. And in case you’re wondering, yes, I am an affiliate and I will receive a small spiff from you signing up. No where near the $10.00 YOU WILL RECEIVE, I might add! And I assure you that my earnings will be used to help cover my expenses associated with running this site, so I can continue to bring you fresh, informative, thoughtful content. Thanks for reading!
Additional Resources:
http://www.fafsa.ed.gov/
http://www.collegesavings.org/
http://www.sec.gov/investor/pubs/intro529.htm
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My name is John.
{ 3 comments… read them below or add one }
Thanks for the review on Upromise. I will check into it. I have seen the name here and there, but never took the time to read about it. 164,000, “That’s a lot of Money!”, I’ll have to do my Chris Rock impression when paying the college bill for my daughters (just to embarrass them). “How about I give you $10 and she sits outside the classroom and takes notes?”….
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Pretty much the same situation everywhere..Even in India, Inflation is keeping so high…education getting costlier
take a look
http://bizcues.com/2008/04/04/inflation-touches-7-markets-lose-2/
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@Jenn – You’re welcome. UPromise is definately worth looking in to. And Ohhh ya, $164,000 is a whole lotta money! I’m not sure how our grand children are going to afford to go to college. And by the way, Chris Rock is great!
@ZXCV07 – Yes, education costs are out of control, with no end in sight!
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