WEBVTT

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Take your seats , schools in session .

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Today's topic is a serious one . We're

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going to learn about the cost of higher

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education , but before we get into that ,

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let's just take a minute and talk about

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why a college degree can be so

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important in the first place . In short ,

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it's all about money . According to

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studies , a college graduate on average

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will earn 1 million more dollars during

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their lifetime than a high school

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graduate , as they say , learn more ,

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earn more . So clearly that's a big

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upside of college , the potential to

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make more money . But now let's talk

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about the big downside of college and

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get into the focus of this video , and

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that is the cost . Let's just say it

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isn't cheap . Recent reports show the

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average total cost of an in-state

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4-year public university is now more

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than $82,000 when you factor in tuition

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fees , and room and board . You don't

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need a college degree to realize that's

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a lot of money . And what's worse is

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that those costs keep increasing every

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year at a fairly rapid rate . If we

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fast forward 20 years and take these

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cost increases into consideration , the

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same 4 year public university could

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cost as much as $220,000 .

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To put that into perspective , in order

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to save up $220,000 over the next 20

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years , you would need to start

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investing now over $425 per month ,

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assuming you could earn 7% on your

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money each year . OK , so that's a lot

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and potentially pretty scary , but

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scaring you isn't the point of this .

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Video . The point is to make sure you

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know what you're up against so you can

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start attacking it in whatever way

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works best for you sooner rather than

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later . It may require a combination of

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savings , income , scholarships , and

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student loans to get the job done , and

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you might even be able to use your post

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9/11 GI bill benefits to help . What's

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most important is that you start saving

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early . A little planning now can go a

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long way later when it's time to send

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your little one off to school . To

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learn more about saving for college ,

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review the education benefits and

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savings handout accompanying this

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training . Class dismissed .