Category - College

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Find ways to save money when you fund College education
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Student Loan Debt Doesn’t Have to Derail Your Life
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50 Shades of 529’s: What College Plan Dominates?
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How To Save (and Pay) for College
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Financial Planning and Your Child’s College Education

Find ways to save money when you fund College education

It is a well-known fact that funding a child’s college education costs tremendous amounts of money these days. No denial about that. I know it first-hand having funded college education for three children in the last eight years! In fact, that is the reason why we all should carefully examine any whichever method that helps us reduce these costs. So, the question is: is there a way you can save money in the process? Thanks to tax laws (and some very recent tax deals), yes you can. While the finest details are in IRS Publication 970, let me try… Read More

Student Loan Debt Doesn’t Have to Derail Your Life

aLast week, we discussed how college teaches real-life lessons about financial planning, emphasizing that figuring out how to manage money can set one up for fiscal responsibility during the college years and beyond. But some people derail their lives before classes start by taking on more student loan debt than necessary. Bankrate.com is one of many media outlets to report that student loan debt has caused some people to alter life plans. According to a Bankrate Money Pulse survey:

“45% of Americans with student loans, and 56% of those between 18 and 29, have put off a major

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50 Shades of 529’s: What College Plan Dominates?

Eric’s Note: Tax benefits are specific to Alabama. Originally published at www.mcclainlovejoy.com: http://wp.me/p31Bd2-w9

Does the thought of a $100,000 college bill for one kid leave you feeling out of control? You can use a 529 college savings plan to save and pay for college in a tax preferential way

529  is tax code section which enables states to setup and offer college savings accounts. They come in two flavors–Prepaid Tuition plans, which we generally suggest you  avoid.

Ccontributory plans or 529 college savings accounts which operate like a 401k/403b retirement plans with contributions dedicated to a single goal: paying …

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How To Save (and Pay) for College

Saving for college is a priority among many parents. Often we are asked about the right savings vehicle for college education. There are a few that parents can choose from between Coverdell ESAs, prepaid tuition and 529 college savings savings plans.

We’ll discuss the 529 plan here. The 529 plan is essentially a college savings vehicle very similar to an IRA or an employer-sponsored plan. Depending on the state you live in your state may have a 529 plan that will have access to stock and bond mutual funds and or a pre-determined mix that will invest the money and …

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Financial Planning and Your Child’s College Education

When you visit a Fee-Only financial planner, one of your concerns may be finding a way to afford your child’s college tuition. In a previous post, we asked,  ”Should Parents Put Retirement Planning Before a Child’s College Education?” because we know sometimes it is hard to strike a balance between your future and your child’s future.

While we are not endorsing the position taken in “Why parents shouldn’t pay for college,” we are going to discuss some of the ideas presented.

Author Liz Weston spoke with Professor Laura Hamilton, co-author of the book Paying for the

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