While more families choose a general savings account to save for college, those using 529 college plans are saving more, according to Sallie Mae.
Recent tax reform resulted in changes that allow families to save more in ABLE Accounts for the care of a child with disabilities.
Build momentum for college saving before your child enters high school, by engaging children in good savings habits and monitoring your saving strategy.
Considering the many responsibilities competing for family savings, it’s never too early to consider college planning strategies.
For families planning for college, the senior year of high school has many deadlines and preparations for parents and students.
When planning for college, the junior year of high school is busy as parents look deeper into financial aid and juniors sharpen their focus on goals.
Planning for college for parents and students can begin as early as freshman and sophomore years in high school, and help families stay on track.
Parents may consider creating a checklist for the financial considerations involved when students head off to college.
A 529 plan may be part of a strategy to utilize tax-advantaged savings to meet the rising cost of college.