ALASKA—
As the cost of higher education climbs, the gap between the dream and price tag of post-secondary education has widened. Without planning and saving, the ability to achieve the dream of higher education will slip out-of-reach for many Alaskans.According to the Bureau of Labor Statistics, the tuition component of the Consumer Price Index (CPI) increased by 8% per year, on average, from 1979 to 2001. If the rate continues, children born today will face college costs that are three to four times current prices by the time they matriculate.
About one-third of parents are not saving for their kids' college education expenses. Of the parents who save for college, one-third have saved less than $5,000 and three-fourths have saved less than $20,000.
In Alaska, the post secondary savings experience parallels the national averages. Channel 2 and the UA College Savings Plan are partnering to increase awareness of 529 college savings plans, which cover accredited university, college and technical schools in and out of Alaska.
Our goal is to get more Alaskan youth and families focused on planning and saving for post-secondary education and as such more opportunities for Alaskan youth to pursue their dreams.
