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What is the average cost of college tuition? This is one question that most parents and future students ask themselves and need to know in order to plan for a college education.

The national average college tuition rate for public universities is $4,694 per year for in state residents. This figure includes both tuition rates and fees for a full time student.

The average college tuition rate at private colleges and universities is around $20,000 per year in tuition and fees.

Many students take advantage of the low tuition rates of two-year public colleges and junior colleges. The average tuition for a two year school is only $2,076 per year.

College Tuition Increase

While it is good to get an idea of the current cost of tuition, it is also important to understand the expected increase in tuition costs. Students who still have several years before entering college and their families should be keenly aware of the projected estimates rather than the current costs so that they can plan accordingly.

Tuition rates increase at about twice the general inflation rate. On average, tuition rates tend to increase about 8% per year. Some academic years see a greater increase than others and many economic factors come into play when a college decides to increase tuition.

For the school year 2005-2006 many colleges dramatically raised tuition rates. An example of such tuition hikes is at the University of Colorado where tuition rates have been raised for all of the system’s campuses. Tuition at the Boulder campus will go up by 27.8 percent, from $3,480 to $4,446. Other University of Colorado campuses will see a similar increase.

And now the good news…

Even though college tuition rates increase, more students than ever are benefiting from educational aid programs. According to a report from The College Board, “In 2003-04, the amount the average student actually paid for a public four-year institution, after receiving grant aid and education tax benefits, was about $1,300 per student.”

Government grants such as the pell grant provide funding for many college students. In fact for students who attend two-year colleges the grant award may cover the entire cost of tuition.

Scholarship programs awarded by colleges, businesses and non profit organizations are available to help students defray the cost of college tuition. There are many college scholarship programs available and it is becoming even easier to find these programs with the use of the internet.

With a combination of savings, financial aid, and scholarships many students today are able to afford college tuition and further their education.

Michael Carter is a contributor at College Financial Aid Guide, an online informational resource for educational funding, scholarships and student loans. Find out about more collegefinancialaidguide.com/student/college-financial-aid-information.htm College Financial Aid Information

Most high school graduates are pretty much on their own when it comes to furthering their education, since parents are not able to help due to the increased cost of living throughout the United States. This was usually the case until just recently, when many different programs were developed for aspiring college students to make their dreams come true. Because not all students qualify for financial aid and other programs, they are left to cover the entire cost of their education, including books, lab fees, and living costs.

One program that was recently developed is the Education IRA, which works just like a retirement IRA. IRAs are meant to help people save up for a certain event in their life, like retirement or college education. The Education IRA is meant to help students save up for their college education, unlike other programs, which only offer tax incentives for high education expenses.

An Education IRA is a tax-advantaged saving account program that was created in 1997 by the Taxpayer Relief Act. Anyone is able to contribute to an Education IRA, whether related to the account beneficiary or not. There is a $2,000 maximum limit to an Education IRA, as long as the parent’s earned income is under $190,000. Families with smaller incomes are able to make smaller contributions to the account, and individual filers are also granted the same option for contribution.

An Education IRA is very similar to a Roth IRA, since after-tax money is sheltered in an account to save up for a certain event. The money in the account will remain tax-free as long as all the money will go to education costs only. By setting a savings account up for education costs, a great amount of money can be made by the time a child is ready to continue their education. Education IRAs are best when they are started when the child is young, so they will have many years of built up interest to use for the child’s education.

An Education IRA is a very effective method when trying to get money to put a child through college, since it is earned money rather than a loan. Because all of the money earned on an Education IRA is actually earned and not loaned, there will be no payments to pay back any costs of education. Education loans carry high interest rates and can take years to pay off, but Education IRAs can cover all of the costs without having to pay anything back.

Setting up an education IRA for children is very important, because it gives them a chance to go to college and pursue any dream they wish. With the costs of college education rising, it is important to have a plan to put a child through school while they are still young, until waiting until the last minute and having to take out loans or refinancing homes.

It is not necessary to contribute the entire $2,000 each year for each student, and you actually can choose not to make any contributions in a given year. You can contribute to the account each year until the child reaches eighteen years of age, with the exception of special needs children who can receive contributions after their eighteenth birthday. If funds remain in the Education IRA account after the school is paid for, it is subject to taxes and penalties that are determined by the bank. Unlike most other IRA accounts, Education IRA accounts allow you to withdraw money at any time. It is up to the account holder to make sure the funds are going toward education only, since this is what is outlined in an Education IRA.

You can contact your local bank or financial institution for more information on Education IRA or any other type of IRA accounts.

Learn some tips on setting up an education IRA and the differences between it and the standard IRA accounts at: educationira.org educationira.org educationira.org Education Ira.

The University of Florida, located in Gainesville, has the unique distinction of being a public land grant school. Home to thousands and thousands of students, this university not only has made a name for itself in athletics, but it has also been known to contribute a thing or two to the world of academia. If you went there as a student, chances are you know a few things about the university, at least where to find the best parties. Take our quiz to find out if you are a true gator, or one that is merely up the swamp without a webbed foot.

1. What year was the University of Florida established?

a. 1901
b. 1853
c. 1880
d. 2500 BC

2. The year 1947 marked a year when what happened at the University of Florida?

a. Women were first admitted
b. The school was racially integrated
c. Post World War II propaganda caused a riot
d. An alligator got his bachelor’s degree

3. The University of Florida professors and students are credited with many inventions. What sports drink was invented at this school?

a. Powerade
b. All Sport
c. Gatorade
d. Water

4. The University of Florida is the _____ largest university in the United States.

a. fifth
b. second
c. third
d. eighty-ninth

5. What famous musician siblings attended the University of Florida?

a. Hanson
b. The Righteous Brothers
c. The Bellamy Brothers
d. The Brady Bunch

6. What NFL running back, who presently plays for a Florida team, attended the University of Florida?

a. Fred Taylor
b. Ronnie Brown
c. Cadillac Williams
d. Dan Marino

7. What is the motto (when translated from Latin to English) of the University of Florida?

a. Strength, Skill, Customs
b. The welfare of the state depends on the morals of its citizens
c. Let Your Light Shine
d. May the Force be with you

8. What is the name of the University of Florida’s mascot?

a. Crock A. Dile
b. Albert E. Gator
c. Bob L. Gator
d. Fluffy

9. How many colleges is the University of Florida divided into?

a. 10
b. 14
c. 16
d. 1, they don’t believe in dividing

10. The University of Florida athletic programs have the distinction of being what?

a. One of only two schools to be ranked in the top ten for the past 23 years
b. The only school to have won back to back championships
c. The school that has produced the most pro bowl NFL players
d. An athletic program that drinks Gatorade.

Answers: 1. b. 1853; 2. a. Women were first admitted; 3. c. Gatorade; 4. c. third; 5. c. The Bellamy Brothers; 6. a. Fred Taylor; 7. b. The welfare of the state depends on the morals of its citizens; 8. b. Albert E. Gator; 9. c. 16; 10. a. One of only two schools to be ranked in the top ten for the past 23 years.

See how you did:

9-10 correct: Okay, so obviously you’re an alumnus.

6-8 correct: Pretty good…a round of Gatorade’s on us.

3-5 correct: If you want to the University of Florida, you probably ditched a lot of classes.

Less than 3 correct: I’m guessing you’re a Seminole.

Jennifer Jordan is a senior editor for milleniumlimo.com milleniumlimo.com. An avid sports fan, she likes the Miami Dolphins but her heart belongs to the Denver Broncos.