This story about creative financing for college ran over the weekend in my local paper. The article does a great job of outlining some of the financial challenges families are facing in the midst of this country's economic crisis. It was good to see that staying in school is still a priority for the two families featured in the piece, but rather heart-wrenching to read the … [Read more...] about 7 Creative Ways to Pay for College
Saving for College
Last month, we talked about how to figure out how much you need to save for your child's (or your own) college education. The bottom line was that there is no set formula. Rather, the amount you put away is a factor of how much you can afford, what college (or type of college) you anticipate your child attending, and how much other assistance you expect to receive. I … [Read more...] about The Best Way to Save for College: 529 College Savings Plans
Conventional wisdom tells us that it's never too late to start saving. But is that necessarily true when it comes to college costs? If you are a parent, how much do you need to save in order to pay (or even help to pay) for your child's undergraduate education? Let's say you are having a baby. If you start putting away $100 a month for the wee one right now, by the time he … [Read more...] about How Much Do You Need to Save for College?
If you are a parent who has diligently socked away funds in a 529 Plan for your children's college education, you probably lost some money, then maybe gained some back in recent years. Seeing your kids' nest egg going up and down is scary, no doubt about it. When the panic starts to set in, some of you are probably thinking about calling it quits on your college savings. … [Read more...] about Are 529 Plans Still a Good Plan?
Last week, we talked about ways to reduce your dependency on student loans. One of the single best ways to avoid costly loans is to plan ahead with a college savings plan. Known as a 529 Plan - after the federal tax code that allows you to save money on your taxes when you invest in these plans - college savings vehicles are used by millions of Americans to save … [Read more...] about Saving for College: Top 5 Questions (and Answers)