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Archive for Tuesday, February 19, 2008

On the money: college savings plans

February 19, 2008

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A Qualified Tuition Plan, commonly known as a 529 Plan, has become a popular way for parents to save money for their children's future education, and catch a tax break.

One of the following Web sites may provide useful insights:

¢ College Savings Plans Network explains a 529 college saving plan and compares features and state plans.

¢ FinAid covers several 529 topics, from the basics to tax considerations.

¢ Savingforcollege.com offers an overview of college saving vehicles, and features comparison of 529s with other saving options.

¢ SmartMoney.com offers reviews of different education saving plans and a 529 College-Savings-Plan Estimator.

¢ U.S. Securities and Exchange Commission gives answers to many of the questions that come up regarding 529s.

Comments

toefungus 6 years, 10 months ago

This plan is a joke. Tuition is rising so fast, that to save enough for three kids would take more than the average family wages in Kansas can support. What this plan does do is provide fee income for the administrators. That part, is guaranteed.

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