Pay for your kids' education without draining your retirement. Here are the real numbers, the Georgia programs that help, and how a 529 and an IUL can work together.
| One year | Tuition & fees | Full budget* |
|---|---|---|
| Public 4-year, in-state | $11,950 | $30,990 |
| Public 4-year, out-of-state | $31,880 | $50,920 |
| Private nonprofit 4-year | $45,000 | $65,470 |
| University of Georgia (in-state, 2026–27) | $11,628 | $29,920 |
*Includes housing, food, books, transportation and personal costs. Sources: College Board, Trends in College Pricing 2025; UGA Office of Student Financial Aid, 2026–27.
If costs keep rising about 3% a year, four years at UGA for a child who is 2 today could cost about $200,900. A private college could cost about $439,500.
Confirm current scholarship rules at GAfutures.org.
| 529 plan | IUL (life insurance) | |
|---|---|---|
| Growth | Market-based, can go down | Linked to an index, up to a cap |
| Market drops | Value can fall | 0% floor on index credits (policy charges still apply) |
| Taxes | Tax-free for qualified education; GA deduction | Tax-deferred growth; potentially tax-free policy loans |
| FAFSA | Counted, up to 5.64% | Not reported |
| If child skips college | Tax + 10% penalty on earnings (some exceptions) | Use for anything, including retirement |
| Protects your family | No | Yes, death benefit |
| Costs | Low fund fees | Insurance charges, highest in early years |
Same $400 a month at a hypothetical 6%: starting at age 2 grows to $129,079 by 18. Starting at age 12 grows to $34,736. Time does most of the work.
Hypothetical fixed 6% annual rate compounded monthly, for illustration only. Does not reflect policy charges, fees or loan interest. Actual results will vary.
It depends on your child's age and your goal. In our hypothetical 6% example, starting when a child is 2, about $400/month covers four years of public in-state tuition and fees, and about $575/month covers the full projected cost of UGA including housing. Your real numbers depend on the plan you choose.
Yes. Families build cash value over 10+ years, then use policy loans to help pay for school. Policy loans reduce cash value and death benefit and accrue interest, so the policy has to be designed and funded correctly.
Cash value of life insurance is not reported as an asset on the FAFSA. Parent-owned 529 plans are counted, at up to 5.64%. Aid rules can change, and some private colleges ask about assets differently on the CSS Profile.
The HOPE Scholarship (3.0 GPA) and Zell Miller Scholarship (3.7 GPA plus SAT 1200 or ACT 25) cover much or all of tuition at Georgia public colleges. Georgia's Path2College 529 offers a state tax deduction of up to $8,000 per child per year for joint filers.
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