The cost of education can surprise even experienced advisers who are already well aware of the cost of life’s big purchases.
The College Board puts the average cost of tuition, fees, room and board at private nonprofit four-year institutions at $45,370 for the 2016-2017 school year. Bear in mind, though, that’s the average, so the cost of sending a child to certain colleges can be north of $60,000 a year — enough after-tax dollars to make even high-income clients feel the pinch.
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