A man begins setting aside money for a child's college expenses, sadly due to rises in tuition there really isn't much room for a graduation gift. What should the value of the annuity be if he begins depositing on year 1 and deposits a total of 12 annuities at 7.0%. The child will draw 10,879 dollars at year 18 since they have scholarships, 14,972 dollars on years 19 and 20 since they have lost their scholarships, and 18,552 dollars on year 21 since they are in excess credit hours and have changed their major from engineering to communications. Afterwards, the parents can be considered to have no more money to give said child. He or she is now left to deal with predatory student loan companies since America has done little in the way subsidizing higher education.