The college acceptance is in and now the countdown to college has begun. Your child is probably busy finding the perfect roommate, perhaps selecting dorm décor and beginning to review the multitude of course offerings. You, on the other hand, may be wondering where the time has gone and how the once little kindergartener has so quickly become a young adult, heading out of your front door and into their next chapter.
For many high school seniors, the pressure to pursue higher education immediately after graduation can feel overwhelming. Well-meaning parents and school counselors often unwittingly contribute to this pressure through conversations about college plans, arranging campus tours, or assisting with applications.
In May of each year, it is always delightful to see signs popping up in the yards of various neighborhood kids and grandkids, announcing their graduations.
The costs of obtaining a college degree can be overwhelming. When confronted with this, some of us may be convinced by others to try and increase our chances of getting financial aid. While there’s nothing wrong with this, I‘ve seen a couple of cases where people have received questionable guidance and were led down a path that was ineffective or potentially harmful.
Dina Megretskaia and Victoria Tejeda explore how these tax-advantaged accounts can help you save and invest for a child’s future educational needs. Much like your 401(k) plan at work, 529 plans offer a set list of investments and the assets inside can grow tax free.
Congratulations! You have four years of tuition, room and board stashed away in your 529 plan, and your child hasn’t even graduated from high school yet. Now you can breathe easily, right? Well … maybe, maybe not.
The price of a college education has risen dramatically over the last few decades – in many cases far beyond the rate of inflation.
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