Paying for College

If you need to pay for college and have not saved enough money to cover your expenses you do have other options available to you. It is important to consider all of your options and choose wisely. The choice you make can affect your financial future. 1) You can apply for grants through the government. In the United States you just need to go to www.fafsa.org or you can visit the financial aid office at your school to pick up a paper application. The application only takes a few minutes to fill out, as long as you have all the … Continue reading →

College Saving Plans

Sending your kids to college can be an expensive prospect. If you or your child is set on a private university, it will be even more expensive. It is important to begin preparing now for this future expense. Many parents plan to save for the amount a public school would cost and tell their children that they will need to make up the difference through scholarships and/or loans for the cost of the school. You have many savings options available to you. 1) One common account is the 529 account. This account is set up and managed by each individual … Continue reading →

Financing Your Child’s College Education

Financing your child’s college education is something that every parent thinks about from time to time, and as the child nears college age, the parent thinks about it even more. How do you plan to finance your child’s education? There are many ways. First, where does your child want to go to college? If your child wants to go to a local school, or a state school that will cost you much less than going to a private college or university. In state tuition is usually reasonable and if your child will attend school in the town you live in, … Continue reading →

What You Need to Know about 529 Plans

What are usually referred to as 529 plans are properly called Qualified Tuition Programs (QTPs). They were first authorized by the Federal Government in 1996 to encourage parents to plan for the college education of the next generation. The 529 Plan is State-sponsored. It’s intended that the proceeds are used for tuition fees and all the other costs associated with education beyond high school. That would cover issues like accommodation, books and general expenses associated with going to college. Generally, tax exemptions are generous. Contributions are deductible for Federal Income Tax and some states allow deduction for state tax purposes … Continue reading →