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Parents' Savings Plans Fall Short in Face of Rising College Tuitions, College Works Painting Offers Unique Solution

Mar 21 2013 12:00AM

Marketwire

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IRVINE, CA -- (Marketwire) -- 03/21/13 -- College Works Painting has recently responded to an article published by Reuters that highlights the growing challenge parents face with regard to paying for their children's higher education, as the amount that they are saving is not covering the rising costs associated with the college experience. The company asserts that its business model provides both financial incentive and practical experience similar to that of an internship and that, ultimately, it develops skills that will contribute to future professional success.

According to the article, "The annual estimated cost of tuition, room and board for college jumped by 84 percent at four-year public institutions between 2000 and 2010, to $15,918. Costs for private institutions rose 49 percent to $32,617 during the same period, according to the National Center for Education Statistics."

But the rising cost of a college education is not the only factor that is causing the gap between what parents have to spend and what a degree costs; personal savings have also fallen since the recession began, making it even more difficult for parents to fully cover the expenses generated by their students. The article explains that the amount that individuals have saved, according to the Bureau of Economic Analysis, fell "to 3.7 percent in the third quarter of 2012 from 5.1 percent in 2010."

"With the cost of education having risen so dramatically over the past few years, it's more important than ever for students to be able to find ways to provide for both themselves and their education," asserts a representative of College Works Painting. "There are two main concerns students have right now: how to make ends meet while attending school and how to pay off student loans when they graduate. Many employers are putting an increasingly high level of importance of internship experience when it comes to hiring college graduates, and the experience provided by College Works Painting can further support a student's application. A good internship can help students to pay for school and provide them with the experience they need to get a well-paying job when they graduate."

ABOUT:

College Works Painting is a company that provides undergraduate students with the resources necessary to operate a painting business. The organization assists students in developing an understanding of business ethics, sales, communication, organizational management, and leadership to help them to build a successful business and cultivate a skill set that will contribute to their future professional achievements. Founded in 1993, College Works Painting has operations in 19 individual states that hire over 2,000 college students annually. With a 97 percent customer satisfaction rating, the company paints over 10,000 homes each year. College Works Painting offers fully licensed and insured services that are accompanied by a two- to five-year quality guarantee.



Source: Marketwire


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