(BPT) - Deciding what gift to give a child for holidays, birthdays, graduations and other gift-giving occasions can be challenging. Traditional gifts like computers, phones, gift cards and clothing may be appreciated in the moment, but they don't have the potential to appreciate in value over time. This year, instead of giving a traditional gift, consider starting or contributing to a student's 529 college savings plan account to help save for future education.
The cost of college has risen substantially over the past 20 years. According to the College Board Trends in College Pricing, the cost of a four-year undergraduate education — which includes tuition, room and board — increased by 68% at private colleges and universities between 1994 and 2024. For public colleges and universities, the cost increased by 78% during the same period.1
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