529 plan

529 plan

How to Choose the Right 529 Plan

Paying for college is something that can strap both students and parents for cash. Whether you’re going to college in state, out of state or planning on attending a community college, education is expensive. Many parents are looking for the best option to afford the costs. For those parents that might be planning ahead, there are 529 Plans available to help and have been since 1996. These plans are in place to help you pay for your child’s college education and receive some tax breaks and other incentives. There’s not a lot of attention given to 529 Plans so many people don’t know they exist. Read the rest of this entry »

Paying for College with a 529 Plan

saving moneyPaying for college is expensive. The sooner you start saving for it, the better off you will be, and hopefully, the fewer student loans you will have to pay off after college.

So what’s the best way to save for college? Well, you could fill a glass jar with cash and bury it in your backyard. (On a side note, that really is how I saved for my first car. Other than avoiding the fire ant hill near my hiding spot, it was a great idea.) Or, if you still have a few years before you start college, you could invest in a 529 plan.

What is a 529 plan?

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