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Celebrate Grandparents Day by saving for child

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National Grandparents Day is today. If you’re a grandparent, this day is meant to honor you — but you can also celebrate by investing in your grandchildren’s future.

Of course, much of their future success may depend on their ability to receive a college education, but college is expensive. In fact, according to the College Board, for the 2009-10 school year, the average cost (tuition, fees, room and board) for an in-state student for one year at a public, four-year school was more than $15,000, while a student at a private, four-year school paid, on average, more than $35,000.

Furthermore, in recent years, college costs have risen considerably faster than the general inflation rate, so if your grandchildren are still quite young, their college bills may easily eclipse the numbers shown above.

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