Education Costs Keep Rising
 By Norm Merz, CLU, ChFC
As parents of growing children, we look at long-term obligations as responsibilities that need to be addressed
someday. As the years roll by, our children grow up and one day, we realize that all of a sudden our kids are
college bound.
I would like to share with you some recently published costs of colleges and institutions (from Profiles Plus
software) in my home state, Wisconsin. The following table shows costs today. Check out collegenet.com for
information on colleges and universities in the U.S.. It provides information on colleges, tuition costs, a
scholarship search database and more.
| |
In-State |
Room
Board |
Books
Supplies |
Total* |
| Marquette University |
$15,620 |
$5,770 |
$600 |
$21,990 |
| Concordia University |
$11,900 |
$3,770 |
$620 |
$16,290 |
| U of WI Eau Claire |
$2,526 |
$3,133 |
$180 |
$5,839 |
| U of Wisconsin |
$3,002 |
$2,938 |
$590 |
$5,954 |
| UW Oshkosh |
$2,426 |
$2,038 |
$590 |
$5,954 |
Figures are in U.S. dollars.
*Total assumes in-state tuition only.
The following projections assume a 7 percent annual growth in education costs. These are annual tuition costs projected
out 5, 10 and 15 years.
| |
5 years |
10 years |
15 years |
| Marquette University |
$30,842 |
$43,258 |
$60,671 |
| Concordia University |
$22,848 |
$32,045 |
$44,945 |
| U of WI Eau Claire |
$8,189 |
$11,486 |
$16,110 |
| U of Wisconsin |
$10,895 |
$15,281 |
$21,432 |
| UW Oshkosh |
$8,351 |
$11,712 |
$16,427 |
These costs are staggering. However, what alternative do you have?
You can begin planning by checking out some of the following options:
- Begin a systematic investment plan today to assure yourself that you will have the funds available to educate
your children in the future.
- Have an adequate amount of life insurance to protect your family. You can build equity with many life insurance
plans that can be used for education expenses. Protecting your family and saving for the future can all be done
with life insurance.
- Explore all avenues of financial assistance, such as school loans, grants, scholarships, contests, and more.
- Search out available scholarships. Many scholarships offered go unclaimed because there were not enough
candidates to consume the scholarships offered.
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