As soon as a child is born, some North Carolina parents start worrying about college costs. Those worries can intensify if a couple decides to divorce.
According to a recent TD Ameritrade study, two-thirds of married couples fail to put financial plans in place in case a spouse dies or the couple divorces. This is true even though around 40 percent of couples end up in divorce court. If a couple has no financial plan for a divorce, paying for college can be more difficult. The College Board reports that tuition, fees and boarding costs for private schools averaged nearly $47,000 for the 2017-2018 school year. Meanwhile, public state school bills averaged $20,770 per year.