Most parents would agree that when it comes to raising children, the old adage “the days are long, but the years are short” rings true. It also applies when we look at education funding. You can’t start saving too soon when it comes to college, since age 18 may be here before you know it.
You’d think the college bubble would’ve shown signs of bursting by now, but not so much. Last year, tuition costs rose again, making the cost of higher education all the more burdensome. The problem has gotten so bad, in fact, that even higher earners are struggling to keep up with those costs. It’s no wonder,
Question: My children are now through with college, and we still have some money in their 529 college-savings plans. Can that money remain in those accounts and be used to fund their children’s college someday? If so, what steps need to be taken to do that? And what happens if I withdraw the money and
The cost of a college education has skyrocketed, and the result has been extensive student loan debt that has put a huge burden on graduates emerging from institutions of higher learning to find a way to make massive monthly loan repayments. Students and parents alike are always on the lookout for ways to make educational
Saving for college keeps getting more challenging. By 2024, the average sticker price for a year at public in-state college is expected to climb to $34,000, and for private school undergrads it could be $76,000, according to the College Board’s 2016 study “Trends in College Pricing.” For people looking for ways to fund future college
[Question]My son will be starting college in Maine this fall, and we’ll withdraw money from his 529 plan for the first time. Do we need to provide the college-saving plan with evidence of eligible expenses before we can access the money? Also, is there anything special we need to do at tax time? [Answer] You