Well I didn’t know exactly so I googled it. For an undergrad degree it costs about $45,000 a year. And for four years of medical school it is around $450,000. They say to think of college as an investment. If you invested that amount of money for four years at 7.5% you’d yield about $209,000. Sink that into an investment that earns 7.5% and after 40 years you’d have close to $3,700,000 dollars. That’s right. Now that’s an investment.

How much money is your kid going to make in a lifetime after you or your kid invests $200k over four years? Hopefully it’s more than $4M. Plus also remember that if you borrow that kind of money you are going to have added interest expenses to go along with that.

OK. OK. Not that many people go to Harvard or expensive schools like that. But even a public college costs somewhere around $23,000 per year for a resident, and $44,000 per year for out of state or non-resident. These numbers are from the University of Michigan undergrad program and include tuition, room and board, books and other expenses. Holy Cow!

No matter who pays for this, you or your kid, it’s a huge chunk of money by most people’s standards. If you pay for it and you don’t have the money already saved, it means working more hours, leveraging your home or borrowing the money and paying it back. This could put a serious crimp in your lifestyle or plans to retire.

Well I’m faced with this reality. I want my kids to go to college. I think that education is valuable regardless of what you earn because of it. I also want to avoid loading up myself or my kids with a huge debt if I don’t need to. Yes we will research scholarships. I’m pretty sure their dad will contribute, but some single moms aren’t in that situation. They are totally on their own.

It seems a shame to work so hard to get your kids ready for college only to find out that the costs are prohibitive. Well I never take no for an answer when it’s really important. I’ve been looking all over the place for ways to fund my kid’s college and earn some serious chunks of cash. I figure I’ll need roughly $4,000 per month for every year one kid is an undergrad. The way my kids are spaced out, that will amount to eight years of $4,000 per month, close to $400,000.

Well there is a way to fund your child’s education, if you start now, and I found it. You’re not going to make that kind of money instantly but after a while that extra $5,000 a month will go on autopilot. How sweet will that be! No more worrying about tuition.

If you are and avid reader, and you should be, read The Next Millionaires by Paul Zane Pilzer. He talks about how more and more people will be stepping into the millionaire category and how many of them will get there. I’m going to be one of them.

If you want to take control of your tuition situation and your financial future listen to this FREE audio recording to learn about many ways to earn money from home. See you there! HowSingleMomsCanPayForCollege.