Resources > Educational Planning > Saving for College

Educational Planning

Saving for College

Budgeting and Your College Student

Many students will first handle money without parental supervision during college. To help keep costs down and avoid conflicts, you may want to develop a budget to guide your child's spending. As you go through the process, consider the following: Firstly, consider all potential expenses,...more

Tips for Your College Education Fund

No one disputes the fact that the cost of a college education is high. For the 2004-05 school year, the average annual cost of a four-year public university is $14,640 and for a four-year private university is $30,295 (Source: Trends in College Pricing, 2004). While those prices are sure to...more

Withdrawing College Funds

Once your child starts college, you'll want to use funds set aside for college to maximize tax advantages as well as your financial aid awards. Which investments should you withdraw first - money from personal savings, Section 529 plan assets, or funds from Coverdell education savings accounts...more

Planning for College Costs? Be Sure to Do Your Homework

Most people agree that an investment in a college education is money well spent. But finding the money to pay for escalating education costs is not easy. According to The College Board, the cost of putting a student through college rose at a rapid pace again this year, averaging $27,516 a year at...more

Dueling Goals: Saving For College and Retirement

Back in the "good old days" when people tended to have children at younger ages, they were able to take important financial goals like saving for retirement and educating their kids one at a time. Now, as the baby boomers have popularized the trend of starting families later in life, it's not...more

How do You Plan to Save for College?

If the sounds of high school Pomp and Circumstance seem far away for members of your family, hold onto your mortarboards. The cost of a college education is rising and showing no signs of decreasing. According to the College Board, the average public university tuition and expenses grew 14.1% to...more

529 Savings Plans: A Flexible Way to Save for Higher Education

As if saving isn't difficult enough, setting aside money for college has become an added challenge for many parents and grandparents in recent years, as the cost of higher education continues to rise. In fact, with the price tag for a four-year degree expected to increase 165% for both public and...more

Save Wisely for College

Education funding is a hot topic these days. With the average cost of college soaring, families are coming to realize that they had better start saving sooner rather than later. In the past three decades, public college tuition has increased steadily, while tuition and fees at private schools...more

Gifting to Children

Today, there are a number of ways to save for higher education. Parents can take advantage of pre-paid college plans, Section 529 plans and Coverdell Educational Savings Accounts (formally the Education IRAs) to name a few. All of these plans have both strengths and weaknesses. Custodial...more

College Saving -- Down to the Wire

Tassels, caps, gowns and football season  these are the sights that trigger high school students' dreams of college, but they can alsopoint to a financial nightmare for parents facing college costs. According to 2013 estimates from CollegeData and other sources, the average cost of public college...more

Section 529 Savings Plans

Section 529 savings plans are state-sponsored college savings plans to which anyone can contribute money on behalf of a beneficiary. Contributions are invested according to options directed by the state. Here are some pros and cons to help you prepare for saving for your childs education with...more

The Pillars of Education Planning

An ever-stressful topic among parents is how to accumulate sufficient resources to meet their children's education funding needs. Ideally, the accumulation of resources for education costs should be based on an investment strategy that incorporates fundamental investment planning principles. ...more

The Pillars of Education Planning

An ever-stressful topic among parents is how to accumulate sufficient resources to meet their children's education funding needs. Ideally, the accumulation of resources for education costs should be based on an investment strategy that incorporates fundamental investment planning principles. ...more

Crash Course On College Savings Plans

Investing education dollars in a tax-free, state-sponsored 529 college savings plan may be a no-brainer. Choosing the right plan can be a brain-rattler. More than 70 plans exist nationwide, and investment options seem to multiply daily. Fees and expenses also vary widely, and signing up for a...more

529 Plans ? A Tax Advantaged College Savings Program

Is it possible to secure a tax-advantaged college savings plan that has no age restrictions? How about no income phase out limits if I make a good living? Do we have to be penalized with those pesky residency requirements? One more thing, can I use the plan to pay for more than just tuition? An...more

States May Offer the Key to Meeting Education Costs

Every spousal financial relationship is unique. Through the years, couples develop their own systems for handling financial matters. Sometimes it is one partner's responsibility to manage all finances, sometimes the other's and sometimes a combination. Whatever the situation, certain information...more

An Innovative and Powerful Way to Save for Higher Education

With the cost of college tuition and expenses rising at a higher pace than the rate of general inflation, planning for a child's education is one of the most important financial decisions one can make. In the past, many concerned investors have used tools such as Education Savings Accounts,...more

Five Ways to Cover College Tuition

There is no escaping the fact that college costs are rising. According to the College Board, a not-for-profit membership organization composed of more than 4,700 educational organizations, the average annual tuition at four-year private universities is $20,082, up 6% from last year, and $5,132 at...more

College Savings Plans: The Benefits of a 529 Plan

Do you know what a "529" college savings plan is and how they work? If you?re concerned about investing enough money to send your children to college, it's critical you know about this new, powerful way to save for higher education. 529 plans, named for a tax code section, were started...more

Interpreting 529 Plan Expenses

529 plans have many benefits, ranging from the fact that the owner, not the beneficiary controls the assets to the fact that earnings grow tax free from federal taxes and withdrawals for qualified education expenses are free from federal taxes through 2010. However, one reason many investors...more

529 Savings Plans: King of the College Funding Accounts or 2nd Tier Option?

In just about any publication you read, from newspapers to magazines, "experts" are hailing the unmatched benefits afforded to you for education savings through a 529 Savings Plan. From the possibility of state tax deductible contributions, to high contribution limits, to tax-free distributions,...more

ACA and Job Lock

By Justin Stoltzfus January 15, 2014 The media is all over the Affordable Care Act, mostly because of intense political drama. Reports on the number of applicants signed up, the strengths and weaknesses of various state exchanges, and the "he said, she said" of website administration...more

Legacy Moves: Planning Your Business's future

By?James O'Brien January 15, 2014 When you build a business, you're not simply fulfilling a vision while earning a living; you're also creating a legacy. It's your legacy -- and it's something to pass along. Enter succession planning: the process of preparing to hand over your company to future...more

Good News for College-Bound Students: Fees Dropping in 2014 for 529 College Savings Plans

By Justin Stoltzfus. Those who want to put money into a?529 college savings plan?should know about how these kinds of investment opportunities have been revamped and improved during recent years. Now, some of the newest reports on these useful investment vehicles for higher education show that the...more

The Pillars of Education Planning

An ever-stressful topic among parents is how to accumulate sufficient resources to meet their children's education funding needs. Ideally, the accumulation of resources for education costs should be based on an investment strategy that incorporates fundamental investment planning principles. ...more

The Pillars of Education Planning

An ever-stressful topic among parents is how to accumulate sufficient resources to meet their children's education funding needs. Ideally, the accumulation of resources for education costs should be based on an investment strategy that incorporates fundamental investment planning principles. ...more

Five ways to cover College Tution

There is no escaping the fact that college costs are rising. According to the College Board, a non-profit composed of more than 4,700 educational institutions, the average annual tuition is $30,094 for four-year private universities and $8,893 for four-year public universities. Thats a hike of...more

An Innovative and Powerful Way to Save for Higher Education ? The 529 College Savings Plan

With the cost of college tuition and expenses rising at a higher pace than the rate of general inflation, planning for a child's education is one of the most important financial decisions one can make. In the past, many concerned investors have used tools such as Education Savings Accounts,...more

Crash Course on College Savings Plans

Investing education dollars in a tax-free, state-sponsored 529 college savings plan may be a no-brainer. Choosing the right plan can be a brain rattler. Finance experts can point to hundreds of options for 529 savers, considering their investment class, location and strategy, and investment...more

The Role of the Prepaid Tuition Plan -- and Some Helpful Things to Know in 2014

By Justin Stoltzfus March 3, 2014 In addition to the wide range of 529 college savings plans based on tax exempt status, there's an option commonly called "prepaid tuition," which often receives a "529" designation and presents an alternative for college savings. Prepaid...more

7 Financial Tips Every College Student Should Know

By Paula Pant Wiseradvisor Contributor College is an exciting time, but it's also an expensive time. With the average debt for graduating seniors hovering around $29,000 (according to CNN), every incoming freshman should be taking a crash course in College Finances 101. So before you hit the...more

Tailor Finances To Fit Your Stage In Life

The media offers a lot of advice on picking the best stocks, but not enough is written about selecting the best strategies based on your age and stage in life. In her book How Much Is Enough? Balancing Today's Needs With Tomorrow's Retirement Goals, certified financial planner Diane McCurdy...more

Additional Educational Planning Resources

Get Financial Advice
Right To Your Inbox!

Free E-Newsletter

Top City/State Searches