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How to Pay for College Without Going Broke
A single father writes, “I work two jobs. My first job starts at 7:00 AM and ends at 3:00 PM. Then I have a lawn-care business in the afternoon—all to pay for college for my daughter. And now I’m wondering how I’m going to be able to save enough for my retirement.”
A mom wrote, “My oldest child will be ready for college before I know it, and my second child isn’t far behind. How will I handle the expense? I mean, $10,000 per year—per child—doesn’t grow on trees.”
Finding the money for a college education can be a daunting prospect. For too many parents, it means paying for college with money that should go to finance their retirement.
It’s a choice no parent should have to make:
“I’m from the government, and I’m here to help”
Right. Over the years, the government has come up with scads of ways to pay for college—all the while ignoring a powerful solution that’s been available for more than a century. Beware, because government plans all have strings attached. They have “Gotchas!” galore.
Government “help” comes in three main flavors:
Enter Bank On Yourself Plans
The Bank On Yourself method relies on a specially designed, little-known type of dividend-paying whole life insurance policy with specific riders added to it that grow your cash value significantly faster than a traditionally-designed policy. These policies have increased in value by guaranteed and predictable amounts every single year for more than 160 years.
In contrast with traditional college savings plans, your Bank On Yourself plan lets you know the minimum guaranteed value of your plan on the day your child plans to start and graduate from college. You’ll never lose sleep wondering what the stock market will do next and whether you’ll have enough when the big day comes. Using Bank On Yourself to finance a college education gives you flexibility, plus advantages you won’t find elsewhere, including:
Ask These Seven Vital Questions
This chart lists seven vitally important questions you should ask when considering how to pay for college:
* Your child can use it for something other than education at the age of 18.
^ This depends of the loan and specific tax circumstances of payer.
Where to Get the Answers and Help You Need
I can help you get all your questions answered and find out if a Bank On Yourself plan makes sense for your college-bound kids. Click here to request a FREE, no-obligation College Funding Analysis.
Click on the links below to learn more about other key benefits of the Bank On Yourself method: