What are some simple tips to save money for college?

November 27,2010 by: Maxim Thomas

Saving for college is a very basic and fundamental duty of a parent, however difficult it may seem at the time.  There are new investment opportunities and new programs that may make the decision making process that much more complex.  However, in order to get a simple understanding of how things work one just has to get a fair knowledge of the options so that the returns are maximized on each and every dollar that is saved for the future with regard to the education fund. Set a goal One must understand that nothing is impossible to achieve.  Even if … (more) November 27, 2010

How to save for college with a student’s saving account?

November 26,2010 by: Maxim Thomas

Saving for college with student savings accounts as they are young is a wise thing to do and quite different from other forms of saving for their future education etc.  Children need not worry about their future educational expenses or any other requirements that might arise at the college-going age.  It is the duty of the parents to worry about these expenses that are related to college or their children’s higher studies etc.  One can arrive at the future costs with regard to education by using a simple calculator that is available on the net.  The harsh reality is that … (more) November 26, 2010

How to save for college with 529 plans?

November 25,2010 by: Maxim Thomas

College education is very expensive and unless one makes realistic calculation of how much money would be required to fund the child’s education, one could be in for a rude shock.  Experts say that the costs would only go up each year and for a child born in 2003, the parents could end up shelling out at least around $95,000 by the year 2021 just for an undergrad degree (public college) and the figures could be much more startling in private colleges, around thrice the amount.  There are lots of children’s savings plans to choose from, but one has to … (more) November 25, 2010

What are my options if my college savings are insufficient?

October 17,2010 by: Maxim Thomas

Sometimes your college savings could end up short and be insufficient to continue sending your child to college. Thankfully, there are plenty of financial aid options out there that could help you bridge that gap. Browse around if there are any scholarships, grants, and student loans that you could apply to for keeping your child’s college budget afloat. Student Loans This is the option to borrow some money from your federal government to cover your child’s college fees and expenses. Some loans require that your child demonstrates that he or she has great financial need for the money before the … (more) October 17, 2010

What are the different college fund strategies to use?

October 16,2010 by: Maxim Thomas

There are various ways you could use to start your child’s college fund, and with today’s technology you could access them and see which one would best suit your family’s needs and interests. Here are some of the many college fund strategies available today along with the explanations of their uses. Section 529 Plans These are special programs available in all 50 states and the District of Columbia which help families save college funds for their children. Section 529 Plans have also permanent tax advantages where it is free from federal income tax, and these tax benefits differ from state … (more) October 16, 2010