Whether your child is 6 or 16, the important thing is to begin planning today.

At the most prestigious universities, a four-year college degree can cost a small fortune - today an undergraduate education at Harvard costs $36,200 a year!* Although many public universities are a comparative bargain, it's important to ask yourself now how you'll be able to finance a college education for your child or grandchild.

To determine how much money you'll need to have set aside, you need to consider how long you have to invest before your child enters college and whether he or she is likely to attend a public or a private university. Right now, the average cost for a year at a public university is around $11,338**, and the average yearly cost for a year at a private college is more than twice as much - $24,946.**

To calculate how much you'll need for a child or grandchild's college education, click here to go to our education planning calculator.

• *Source: "College Handbook, 2001," The College Board. Estimated total for undergraduate tuition, student fees, room, board, and personal expenses for the 2000-01academic year.
• **Source: "Trends in College Pricing, 2000," The College Board.

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