The best strategy to prepare for this is to start planning and investing early. Save early and often so that your interest continues to earn more interest and your money grows exponentially.
As part of a great American pastime, over three million kids in the U.S. play youth baseball. However, very few will enjoy the distinction of playing at the championship series. Youth baseball players are between 10 and 12 years old, which means that in the next six to eight years, many of these kids will be moving into dorms and starting college classes.
According to the National Center of Education Statistics, nearly 20 million U.S. students are currently enrolled in undergraduate colleges and universities. What percentage of youth baseball players will go on to play college baseball on a full athletic scholarship? The answer is statistically very few.
Only 7.3% of high school baseball players will play NCAA baseball with only 2.2% going on to play at the Division I level. The NCAA allows Division 1 baseball teams to grant 11.7 scholarships per year and division two teams nine scholarships per year. Thus, it’s likely that even if a player were to make it to the DI or DII level, their athletic ability may not pay the total cost of higher education.
According to Sallie Mae, 92% of parents believe in investing in their students’ future. Yet the same study states that only 44% of families have a plan to pay for all years of college. U.S. News and World Report estimates average tuition of public colleges for the 2018-2019 school year to be $9,716 and $35,676 for Private Colleges. Cost was the single largest consideration for families in selecting a higher learning institution (74%).
Tag(s): Issues and Advice