JPMorgan's Scarlata Message for College Costs: 'Start Early & Save Often'

Summary

Tricia Scarlata of JPMorgan Asset Management discusses the rising cost of college and the importance of 529 plans, emphasizing that parents should start saving early and often while also being realistic about which schools they can afford.

• College costs continue to rise, with average private school now at $65,065 per year.
• 529 plans remain a useful tool to save for education expenses.
• Key advice: start saving as early as possible and contribute regularly.
• Many parents delay or avoid college saving due to competing financial priorities.
• Being realistic about school affordability is also important; not everyone needs an expensive private college.