These annual costs for Charter College and the average Washington schools include tuition, fees, living expenses, books, and fees minus the average grants and scholarships for federal financial aid recipients.
|In-state Tuition||Out-of-state Tuition||Median Debt||Total In-state Annual Cost|
As you can see, annual costs at Charter College have risen over the last few years, and are projected to continue to skyrocket based on our analysis.
Actual Costs Projected Costs
Colleges and universities across the United States experienced cost (tuition + living) increases of 2.5% in 2019. This most recent inflation figure was down slightly from the 2.9 percent in 2018 and 3.4 percent in 2017, but still underscores the rising costs of sending your children to higher education.
These rising costs are hitting closer to home in Washington as well. Washington's' higher education costs rose by 34.9% in just the last 10 years, ranking as the 26th highest state.
66% of students enrolled at Charter College receive some form of Federal loan assistance. You can view Charter College's student aid calculator here.
One of the most sound investments you can make to help pay for your child's higher education is by using a 529 plan. These funds grow in a tax-free environment, and generally have a 3-5% rate of return. The only catch is that all funds need to be used for higher education, and if not... there are monetary penalties imposed when withdrawn for other uses.
Washington offers a direct-sold 529 college savings plan and a prepaid tuition program. The DreamAhead College Investment Plan is sponsored and distributed by the Washington Student Achievement Council. Sumday Administration, LLC, a BNY Mellon Company, provides program management. The Guaranteed Education Tuition (GET) Program guarantees that the value of an account will keep pace with the cost of college tuition, no matter how much it changes in the future.
|State Plan Name:||DreamAhead College Investment Plan|
|Maximum Contribution:||Once your account hits a $500,000 balance, you can no longer contribute. However, the funds will continue to earn on its investments and you can resume contributions if your account falls below that $500,000 threshold.|
|Fees:||0.276% and 0.400% annual asset-based management fee; $35 annual maintenance fee; $25 rollover/transfer fee; $10 annual statement delivery fee|