Friday, September 16, 2011

Smart Ways to Save for College

College tuition continues to increase and has exceeded inflation over the past several decades. Current parents of an infant and toddler will see a combined cost of tuition at $360,000 by the time their children attend college. Is there help out there to finance one of the biggest expenses for parents?
The good news is there are a variety of state-sponsored investment programs with tax benefits that help families save for college (including the First Family).  Kiplinger’s Personal Finance shares the programs that are out there, including:
·         529 Savings Plans (the plan Mr. and Mrs. Obama use)
·         Prepaid Plans
·         Coverdells
·         Roth IRAs
·         Custodial Accounts

To figure out which college savings plan is right for you, visit: www.kiplinger.com/magazine/archives/smart-ways-to-save-for-college.html.



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