For National College Savings Month in September, we discuss several burning issues about these popular college savings vehicles. Assets in 529 college savings plans more than doubled in ten years, topping $370 billion at the end of 2019 according to the Federal Reserve. Interest in 529 plans has grown as students and parents fret over rising tuition costs and increasing …
College is Expensive. Make Sure You Have a Plan in Place.
Are you aware of the different options available to you when saving for your children’s (or grandchildren’s) college costs? Here is a glimpse at each option. The hallmarks of an ideal college savings plan would include limitless contributions, important tax benefits, minimal impact on financial aid, and flexibility in choosing a college. No one savings plan is perfect, but some …
Saving for College—Today
College can seem costly, but with an early start and prudent planning, it can be reasonably affordable. Here are some options to start saving for your child’s college costs right now. The amount you’ll need to save depends on the college your child attends and the financial aid offered to you. The trick is to start planning while your child …
College Won’t Pay for Itself. How Will You Pay for It?
You may have more choices than you think. Is creating a college fund on your to-do list? Consider these options. 529 plans. Anyone can contribute to these savings vehicles. Some let you prepay college tuition; others allow you to accumulate and invest education funds. Earnings on investments in a 529 plan grow tax-deferred, and withdrawals are exempt from federal taxes …