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/
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