Using a 529 College Savings Plan for Higher Education Costs

Which is better a public or private college?

If you’re a parent, you want the best in life for your child. That includes seeing them go to college. To pay for tuition, books, labs, and other expenses, you have several options for financial assistance. One of these is using a 529 College Savings Plan. Considering that the cost to attend college continually increases, the sooner you start putting money aside, the better. A 529 College Savings Plan, also referred to as a “qualified tuition plan,” is one possibility to help you save money. Although certain aspects of this plan vary by state, overall, you can grow the funds tax-free. In most states, the contributions can also be deducted from state income taxes. While a 529 College Savings Plan … Read more

How to Make Money on the Side at College

Should You Take Out Private Student Loans for College?

College can be an expensive experience, to say the least. Even with all of the grants, loans, and scholarships out there, you may find that you need money for other expenses too. There are many opportunities out there for you to choose from though, and if you are able to seize the moment, then you’ll soon find that you can come out on top. Tutor Other Students Do you excel at a certain subject? If so, then why not think about tutoring someone else or even one of your peers? If you want, you can check at the employment office of your university and find out if there are any programs going on. You can also sign up for tutoring … Read more

Can I Use a Roth IRA to Pay for College?

Which is better a public or private college?

Whether you have children or grandchildren who are looking to receive a college education in the future, you’ll be considering the ways in which you can effectively and efficiently put money aside to help them pay for college. You can do this in several ways, including utilizing your Roth IRA or setting up a 529 college savings plan. What is a Roth IRA? Before discussing the effectiveness of using a Roth IRA as a means to pay for college, it’s important first to identify exactly what it is. For those who aren’t familiar with this term, a Roth IRA is a type of retirement account that’s tax-free.  Any withdrawals made from it when you hit retirement age are also tax-free. … Read more

Go to Community College First Before Earning a Bachelor’s Degree

College 529 Savings Plan

Nowadays it’s almost mandatory to have a Bachelor’s degree to qualify for a decent job. It’s like a Bachelor’s degree is the new high school diploma. But, taking on tens of thousands of dollars just to get a piece of paper that will qualify for your dream job isn’t always ideal or financially sustainable. Fortunately, community college is becoming an increasingly popular option for people who want to save money on the way to getting his or her degree. You may want to consider going to a community college first before earning your Bachelor’s degree.  Why You Should Go to Community College First Here are four things to consider when choosing between community college first and university classes: More Time to Decide … Read more

U-Nest Review – Easy College Savings App

When you read about student loan debt in the news nowadays, there’s rarely good news about this phenomenon that’s more frequently referred to as a “crisis.” Just look at the latest student loan debt figures if you need proof: $1.56 trillion in outstanding student loans, 44+ million borrowers (including the parents/grandparents/relatives who co-signed the loans), 11.4% default/delinquency rate, and $101+ billion in default for more than 360 days. If you want to have kids soon or you currently have young kids and you’re concerned about their ability to pay for college in the future, then you’re no alone. Millions of parents around the U.S. – many of whom are still paying off their own student loans – want to create … Read more

Your College Diploma Is Like a Share of Stock

Once you and your college friends have graduated, you may believe you can stop thinking much about what happens on campus at your alma mater. But you have a vested interest in your college’s well-being, even after you have your diploma. It’s like a share of stock. Think about what your school and its ongoing reputation say about you. What if your college or university fell apart after you graduated? Would that make your diploma worth less in value? Would it hurt your career prospects? That very scenario happened to a friend of mine. His college almost lost its accreditation. The consequences of such an institutional failure can be disastrous for an alumnus, especially if you’re depending on your degree … Read more