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How To Choose The Right 529 College Savings Plan

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The increasing cost of a college education has significantly outpaced national inflation by an average of 3.4% every year since 2005, creating a national student loan crisis and putting tremendous financial pressure on parents. According to data released by CollegeBoard.org, the current cost of one year at a private nonprofit four-year college, including tuition, fees, and room and board, is $43,921, or roughly $175,000 for four years.