Welcome to the part 5 of my series on ways to reduce the cost of college. It's been a while since we have had an update, so this one is quite overdue, I'm afraid. Just to remind you, so far, I've spotlighted four suggestions: 1. Graduate from college in three years rather than four 2. Go to a local community college for up to two years before transferring to a four-year … [Read more...] about Reduce the Cost of College, Part V: Upromise
college savings plan
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?
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)
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 their plan to pay for school in Texas, they get … [Read more...] about Are Prepaid Tuition Plans in Trouble?