529 savings plans are a common choice for college savings, but they have another use that’s typically overlooked: estate planning. 529 plans have tax-deferred contributions, tax-free withdrawals (for qualified expenses,) and their contributions can be deducted from your taxable income. These features, plus the ability to change beneficiaries at any time, make 529 plans one […]
Financial Aid Changes to Know About for 2021
At the end of 2020, Congress made some changes to the Free Application for Federal Student Aid (FAFSA.) FAFSA is the application for students and their parents to receive government aid for university expenses. The main change that families should know about is that the process has been simplified significantly to make it more accessible […]
How much should you fund a college savings account?
If you’ve got young kids, you probably have a lot on your mind. You might be saving for a different home, a safer car and your retirement fund. But on top of all that, you might also be concerned about saving for college. How much should you actually save in a college savings account? There […]
Selecting the Best College Savings Plan for You
College tuition prices continues to climb, so keeping your child’s future education costs in mind is a smart idea. The sooner you begin saving, the better return you’ll have on those savings. There are different ways to save for college, and they each have their strengths and pitfalls. Planning for your child’s education can be […]
How to Save for Your Child’s College Education
Saving for college is a topic that weighs heavily on the minds of most parents, no matter how old your kids are. You have a lot to plan for and many questions to answer: how much should you save? When should you start saving? And where should you put that money? Figuring this out feels […]