{"id":27879,"date":"2025-08-20T20:07:30","date_gmt":"2025-08-21T00:07:30","guid":{"rendered":"https:\/\/www.finhabits.com\/?p=27879"},"modified":"2025-09-25T12:00:28","modified_gmt":"2025-09-25T16:00:28","slug":"back-to-school-college-savings","status":"publish","type":"post","link":"https:\/\/www.finhabits.com\/back-to-school-college-savings\/","title":{"rendered":"Why Back-to-School Is the Best Time to Start Saving for College"},"content":{"rendered":"
Parents have mixed feelings when it comes to back-to-school season. Some approach the start of class with dread or sadness, while others feel relief. But there is no doubt that going back to school makes every parent think about the cost of education. It\u2019s not just tuition, but books, backpacks, supplies, clothes, and more. That\u2019s why this time of year makes for the perfect annual reminder to check in on one of your family\u2019s biggest goals \u2014 funding your child\u2019s college education. As we all know, our kids grow up way too fast, and a little planning now can spare your future self a lot of financial stress. Here\u2019s why the start of a new school year is your sign to save for college the right way, with a <\/span>Personal Investment Account<\/span><\/a>.\u00a0<\/span><\/p>\n Just like your little ones are preparing for their future in class, let your money do the work of preparing for their future in college. In this article, we\u2019ll show you just how to do that, but first, let\u2019s dive into how much college really costs today, and what that could look like in 10\u201315 years. Then, we\u2019ll explore concrete contribution plans to help you hit your target in time for your kids\u2019 high school graduation.<\/span><\/p>\n Key takeaways:<\/b><\/p>\n  <\/p>\n When families plan for college, we often look only at tuition. But the full <\/span>student budget<\/b> also includes housing, food, books, supplies, and transportation. For 2024\u201325, the <\/span>College Board<\/span><\/a> reports average total budgets (tuition + fees + typical living costs) of approximately:<\/span><\/p>\n These are average full-year budgets for full-time undergraduates. Your actual costs will vary by institution and location, but this gives you a practical, all-in planning anchor.<\/span><\/p>\n College tuition and fees (just that slice of the budget) vary a lot by state. For in-state public four-year colleges, the 2024\u201325 average ranges from roughly $6,360\u2013$17,490 depending on where you live. That price spread is why it helps to target a savings range rather than one \u201cperfect\u201d number.\u00a0<\/span><\/p>\n  <\/p>\n During back-to-school season, you\u2019re already in planning mode\u2014budgets, routines, after-school schedules, new habits. Add one more habit to your list: <\/span>an automatic monthly investment<\/b> into a <\/span>Finhabits Personal Investment Account<\/span><\/a> earmarked for future tuition and fees. By automating your investments in a way that you\u2019ll barely feel month-to-month, you\u2019ll be able to put more money in your pocket year after year. How? It all boils down to compound interest.<\/span><\/p>\n\n
What college costs today (the full budget, not just tuition)<\/h2>\n
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Why back-to-school is your nudge to start investing now<\/h2>\n
Compound interest: Your \u201cStart Now\u201d Financial Path to College\u00a0<\/span><\/h3>\n