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March 15, 2021 7:01 AM Reyna Gobel - Forbes Advisor
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March 17, 2021 9:15 AM
Saving for your child’s future can impact yours if you’re not careful. Before you start putting money away for your child’s college savings in a 529 plan or another type of account, look for easy ways to fund it without dramatically impacting your life.
These can be small decisions like directing credit card rewards toward college savings or something bigger. Patricia Roberts, author of Route 529: A Parent’s Guide to Saving for College and Career Training with 529 Plans, says her family saved by keeping the same car they had when her child was born until he went off to college.
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February 16, 2021 1:00 AM Reyna Gobel - Forbes Advisor
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February 17, 2021 9:43 AM
Paying off your undergraduate loans before grad school could mean forfeiting your access to potentially money-saving federal programs, such as faster student loan forgiveness and interest subsidies on certain federal loans.
If you don’t pay off federal undergraduate student loans before grad school, they’ll be placed on automatic in-school deferment if your school participates in the National Student Clearinghouse. Private loans may not be automatically deferred and often, it is safer than it is for federal loans to pay them off early. Here’s what you need to know when strategizing whether to pay off your undergraduate loans first if you plan on attending grad school.
529 Plans: Should You Use Them For K-12 Education?
February 9, 2021 2:00 AM Reyna Gobel - Forbes Advisor
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February 10, 2021 4:26 AM
In 2019, changes to federal law made it possible for 529 plans, tax-advantaged education investment accounts, to be used for up to $10,000 each in student loan repayment and K-12 education, in addition to college costs.
Cash-strapped parents may feel pressure to save for both college and private K-12 expenses. Here’s what to know about whether saving for both is the right choice for you.
What Is a 529 Plan?
A 529 plan is an education investment account generally authorized by one of 50 states.
529 plans come in two forms. One form has investment options, similar to a 401(k), that you can spend on K-12 tuition or the higher education institution of the student’s choice. The other is prepaid tuition plans where you can prepay college tuition for future years at today’s prices.
How To Make (Or Ask For) A 529 Plan Gift Contribution omaha.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from omaha.com Daily Mail and Mail on Sunday newspapers.
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December 11, 2020 4:33 AM Reyna Gobel - Forbes Advisor
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December 12, 2020 8:18 AM
529 plans are education investment accounts with special rules and tax benefits that help families save for college and even for K-12 tuition. These plans come in multiple forms: a prepaid tuition plan or a savings plan that allows after-tax contributions toward investments in mutual funds and exchange traded funds.
A 529 plan can be a smart way for you to start saving early for your child’s college education.
Plans are available in all 50 states, with plan managers assigned to pick investments that it feels are the best for that state’s plan, potentially resulting in an easier investment process and lower fees negotiated because of group buy-ins.