Page 17 Portland Observer JUNE 22,1989
can grow until the child reaches c o l­
lege age. Another strategy is to enact
a savings/invcstmeni program that
permits m onthly installments. One
advantage o f this system is that pay­
ments can be adjusted to increases in
As the school year draws to a
college costs, inflation and the par­
close, kids everywhere arc gearing ,
ents’ m onthly budget. For those w ith
up fo r summer vacation. But when it ;
younger children-parents who have
comes to putting those kids through
more years in which to build assets--
college, parents get no holiday from
this can be an cs|X*cially attractive
concern about rising costs and how I
option.
to meet them.
But what about couples whose
Their concern is justifie d, accord­
children arc ready lo r college now,
ing to the U.S. Department o f Educa­
or in 1990?
tion, costs for college have risen dra­
W hile it must be viewed as costly
m atically -- about 70 percent - since
and less appealing than other op­
the beginning o f this decade. W hile
tions, borrowing to fund college
the rate o f increase m ight slow some,
expenses also is an alternative. But
no doubt the general upward trend
total payments on these loans, w ith
w ill continue.
interest, w ill far exceed the actual
W hat’ s a parent to do? “ As with
cost o f the schooling.
most personal finance issues, llie key
I t ’ s challenging, at best, to antici­
to successful education funding is
pate all the factors that can affect
planning,” said Chris Schcllcr, a
college funding. But not a ll o f them
division manger at W addell & Reed
are bad. Beyond the. components
Financial Services here.
already discussed-public or private
The planning process, according
school, four-year degree or graduate
to Schcllcr, begins w ith addressing
school how I on i’ before the kids enter
some key questions. Questions such
collcgc-odicr factors easily can come
as: W ill my child attend a public or
into play. Scholarships, grants, work
private university? W ill he or she
study programs and other forms o f
attend graduate school? “ D iffic u lt
financial aid often arc available to
questions, yes,”
said Scheller,
ease the parent’s burden. So, too, can
“ because the child m ight be very
grandparents who adopt the educa­
young today. But facing these issues
tion o f grandchild as a w orthy expen­
early helps guide the investment strat­
diture. “ A ll o f these factors under­
egy. Attem pting to predict 15 years
score what is perhaps the most c riti­
I into the future is hard, but starting
cal point o f all,” Scheller said. “ There
now puts lim e on the parents’ side.”
is no one investment strategy that’s
T hey’ ll need the time, too. A c ­
right fo r everybody. But planning,
cording to the College Board the
and especially planning that begins
average cost o f a single year o f co l­
as soon as possible, can help parents
lege at a public institution, including
prepare for the co stof educating their
tuition, books, room and board, w ill
children.”
W addell & Reed, based in Kansas
be $6,172 fo r the school year begin­
C
ity,
M O ., has more than 200 local
ning in the fa ll o f 1989. That cost is
offices
nationwide and has been in
projected to rise to more than $11,700
the
financial
services business for
by the single year is projected at
more than 50 ycars.The company
$13,699, and like ly w ill increase to
manages more than $7 b illio n for
more than $26,000 in the year 2000.
more than 600,000 clients. It offers a
According to Scheller, numerous
wide array o f financial planning prod­
options exist for funding education.
ucts and services, as w ell as a variety
One such option is to make one or
o f insurance products through a ffili-
several “ lum psum ” investments that
THE ABC’S OF »
PAYING FOR
COLLEGE
Don’t Be Puzzled
by the Possibilities.
When you have the job o f matching talent with ambition, and
bringing professional goals into perspective, you need the pieces
that will help everything fall into place But where do you start?
US Bancorp thinks the best course is one which keeps your
options open. Because we’ve discovered that people climb faster
and farther when not confined to the straight and narrow.
That’s why we offer career opportunities that will take you
places. And the possibilities multiply with every step.
This broad-minded thinking shapes our future as a leading
financial services institution, and provides the ideal vantage
point. One that looks out over the 1990’s and beyond.
So don’t be puzzled by the possibilities. The career pieces all fall
into place at US Bancorp, and subsidiaries. Tb find out more
about opportunities at U.S. Bancorp, please call our Employment
Hotline, (503) 275-6401, or, visit our Employment Office at 555
S.W. Oak Street, between 9am and 1pm, Monday through
Thursday. We are an equal opportunity employer.
A Better Future.
It's Just
A Matter Of Time.
PORTLAND COMMUNITY COLLEGE
Make Your Summer Count
. . . At PCC
Maybe there was a time when people assumed the future would take care o f itself
But now, we understand that it takes time. In Classrooms. Study halls. At home.
If we communicate the excitement o f education to our children, we gain a better
chance for a better future.
That’s why U S WEST is proud to sponsor education-related programs for those
who are looking to the future. After all, if we keep the classrooms full today, chances
are we ll keep small businesses, offices, and boardrooms full in years to come.
It’s just a matter o f time. And U S WEST believes commitment to education is
time well spent.
Take Summer Classes that will count toward an Associate
Degree or Certificate of Completion in one of the 29
Career Programs available at PCC Cascade!
Find out more today..
SUMMER
QUARTER
STARTS
JUNE 19
Visit or Call
PCC CASCADE
705 N. K illingsw orth S t
244-6111, Ext. 5222
uw / vest
COMMUNICATIONS @
Making the m ost o f your time.