2. Turn off the main water supply for the house. Put a bucket under the drain pipe. Open the cold-water handle of the kitchen faucet and let the water drain out if you're replacing the cold valve. Drain the hot side if you're replacing the hot valve.
According to Fidelity, a family making $55,000 would need to save $48,000 to cover the qualified expenses of a public university and $107,000 to cover such costs for a private one. This translates into saving $160 a month for a public college and $410 a month for a private one.
Among those with higher incomes, $100,000 a year or more per household, only 37% say they can afford the cost. Those in this group, 58%, are more likely to correctly identify 529 plans as college-savings tools from among four potential options, according to Edward Jones.