We all have choices to make with regards to how we save and spend our money. Parents have a particularly tough choice – save/spend money on their children’s college education or save for their retirement? Steve Vernon addresses this dilemma in this article on CBS Money Watch. Vernon discusses the costs difference between state schools and private schools. He notes that parents can save a lot of money by having their children look at good public colleges. He also advises parents to do a cost-benefit analysis of the degree program before agreeing to pay for their children’s graduate school. Vernon encourages parents to balance saving for their retirement and their children’s college by taking a sensible and reasonable approach to college tuition.
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