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Articles tagged with: 529 plans

529 College Savings Plans Help Fill Student Financial Aid Needs

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 […]

How Much Do You Need to Save for College?

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 […]

The Dark Side of Student Loans

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 […]

Are 529 Plans Still a Good Plan?

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, […]

Saving for College: Top 5 Questions (and Answers)

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 […]

Are Prepaid Tuition Plans in Trouble?

A recent article from the Dallas News alerted me to a problem with the Prepaid Tuition 529 Plan in Texas. Originally, the plan let investors withdraw their funds, plus earnings, even if the designated beneficiary wasn’t going to college in Texas. Now, however, the state of Texas is amending that benefit: If investors don’t use […]

529 Plans in the Post Crash Era

We talked a few weeks ago about how the stock market crash is going to affect college savings plans.  I mentioned that those of you with plans to attend school in the next year might be feeling a real pinch. Before you completely panic, I decided to take a look at what the experts are […]

President Obama Pushes for More College Saving Among Middle Class

The Obama Administration is proposing a series of changes to 529 Plans, reports the LA Times, in order to encourage more middle class Americans to save money for college. 529 Plans allow you to contribute after-tax dollars, which then grow tax-free until withdrawal, as long as they are used for qualified education purposes. (To learn […]

The Best and Worst 529 Plans for 2008

Consumer Reports recently published its May edition of Consumer Reports Money in which it ranked the 88 different 529 College Savings Plans. If you aren’t familiar with College Savings Plans, I recently reviewed them in our “Best Ways to Save for College” series — check it out here. Or you can read a more in-depth […]

The Best Way to Save for College: 529 Prepaid Plans

On Monday, I launched a new series on the best ways to save for college. We explored 529 college savings plans, concluding that when you carefully compare fees and state benefits, you can really score with a college savings plan. Today we are looking at the other type of 529 Plan — the prepaid tuition […]