It's never too late to save for your children's education. Even if your child is a teenager, save as much money as you can until they are ready to attend college. One way to save is with a 529 college savings plan. A 529 college savings plan is an investment plan that puts money aside for higher education, and can offset the amount needed in the form of college student … [Read more...] about 529 College Savings Plans Help Fill Student Financial Aid Needs
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?
Warning: This turned into a bit of a personal rant! If you have 50 minutes to spare, let me recommend that you track down an interview with Alan Michael Collinge, author of The Student Loan Scam: The Most Oppressive Debt in U.S. History -- and How We Can Fight Back. Collinge is angry about his personal experience with student loans. After losing a job, he applied for … [Read more...] about The Dark Side of Student Loans
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)