With a four-year college degree now costing upwards of $100,000 at many schools, it pays to know the available funding options and how they might apply to your specific needs.
College costs continue to rise, but through regular saving and investing for growth, you can help a child realize his or her goals.
Created in 1996, Section 529 plans offer a tax-advantaged vehicle for college savings. This article will explore the pros and cons of the plans and contrast them with other available savings options.
This article describes sources of college aid available through federal and state programs.
Taxpayers who seek tax-efficient college savings strategies have a number of account options to choose from, including Coverdell Education Savings Accounts, UGMA/UTMA custodial accounts, and 529 college savings plans. This article, which provides an overview of each, is designed to help readers make the most well-informed decision possible.
Most articles about college planning focus on advice for parents. But what about the child who plans to attend college? Although most young people don’t have the assets for college savings, being part of the planning process can be educational.
Thanks to recent changes in tax rules, distributions from 529 plans are now tax free — making them a very attractive option for college savings. This tutorial discusses what 529 plans are, how they work, and how they may differ from plan to plan. It then reviews several different state plans, their positives and negatives, and how 529 plans may also be used for estate planning.
Determine whether you are on track saving for college and if not, how much you should invest each year to reach your savings goal.
Estimate how much you'll need to save for your child's education and how much a 529 plan may save you in federal taxes.