Current trends predict college tuition will continue to increasing at a rate twice that of inflation. A 2006 College Board report announced that tuition has risen 35% in the last five years. As a result, parents continue to worry about higher education expenses. How can future college students and their parents prepare for this imminent expense?
1. Calculate. Many tools are available to help parents plan for future costs. The College Cost Projector that is available from FinAid.org allows one to project future college tuition costs based on inflation rates and years of matriculation.
Other calculators, like the Tuition Savings Calculator from MSN Money.com, take into consideration variables like such as current funds, rate of returns, taxes, and college costs and help one to deduce the annual savings payment required.
2. Save! Once you have projected future tuition costs, begin saving small amounts along the way. One easy way is to take advantage of credit card offers such as the one described by College Money Guru Joseph Hurley from Bankrate.com.
Some credit card companies may offer the opportunity to start a 529 plan, a plan in which rebates are incurred for each purchase made […]

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