More Information Quality Planning What Is A 529 Savings Plan? How 529 Plans Compare Learn More About Paying For College For more information, contact the MEMBERS Financial Services Representative serving CMFG Life Insurance Company for a no cost, no obligation consultation. Quality Planning Is Essential Part of Good Parenting Part of good parenting (or grandparenting) is helping your children (grandchildren) with what they need today. It's also preparing your children for the future...for a time when they'll be responsible adults. College or post high school education can not only further your children's minds and/or bodies, it can also increase their chances for better paying jobs or careers. Higher Education Pays Off The value of higher education for your children is not just an intellectual one. It also has a significant monetary value. According to the 2000 U.S. Census Bureau, college graduates' annual incomes are 81% higher (on average) than those who only graduated high school. That's a gap of $1,000,000 in potential earnings!

Value Of A College Education
LEVEL OF EDUCATION	AVERAGE ANNUAL EARNINGS
Grades 9–11	$25,100
High School Graduate	$32,200
Some College, No Degree	$38,900
Associate Degree	$41,200
Bachelor's Degree	$54,800
Master's Degree or Higher	$72,200
Source: U.S. Census Bureau, 2006, PINC-03

You can be glad that a higher education "pays off" because the cost of a college education, for example, can be staggering. According to the College Board declines in state and federal funding for colleges and universities is fueling an increase in tuition costs across the country. For the 2013-2014 academic year, tuition and fees, room and board, books and supplies, personal expenses, and transportation average $24,098 for a four-year public university, and $47,443 for a four-year private college. All totaled, the cost of a four-year college education for someone starting in 2013, assuming an average 6% annual increase in expenses, is estimated at $105,418 for a public university, and $207,544 for a private college.

Projected College Costs
Number of years until child begins college	Years child will begin college	Total projected cost for 4 years at an in-state public university	Total projected cost for 4 years at a private college
Current	2013-2014	$105,418	$207,544
1	2014-2015	111,744	219,996
2	2015-2016	118,448	233,196
3	2016-2017	125,555	247,188
4	2017-2018	133,088	262,019
5	2018-2019	141,074	277,740
6	2019-2020	149,538	294,405
7	2020-2021	158,510	312,069
8	2021-2022	168,021	330,793
9	2022-2023	178,102	350,641
10	2023-2024	188,788	371,679
11	2024-2025	200,116	393,980
12	2025-2026	212,123	417,619
13	2026-2027	224,850	442,676
14	2027-2028	238,341	469,236
15	2028-2029	252,641	497,390
16	2029-2030	267,800	527,234
17	2030-2031	283,868	558,868
18	2031-2032	300,900	592,400

Given the rising cost of a college education, plus inflation, you probably can't afford to wait until your son (grandson) or daughter (granddaughter) is in high school to start planning. Many responsible parents and grandparents are finding that starting to save before the child even enters kindergarten is none too soon. What are some of the advantages of starting early?

• Your investments can grow over time
• You can set aside smaller amounts of money over a longer period of time
• The student (child) can complete his/her higher education with less debt
• You and your child may have more time to make wise decisions about college or higher education choices.

The Power of Compounding
7 years      10 years      15 years      18 years

For more information, contact the MEMBERS Financial Services Representative serving CMFG Life Insurance Company for a no cost, no obligation consultation.

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