Saving for College

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Fox Business: Saving for Tuition vs. Retirement: Which is More Important?

A couple of weeks ago, Fox Business posted a great article about saving for tuition vs retirement. Here’s what it said: After watching their retirement funds get pummeled by the financial crisis at the same time the cost of college tuition continues to rise, many parents are faced with a difficult choice: contributing towards their…

Calculating Future College Costs

Did you know that parents of a newborn should start saving approximately $700 per month for the next 18 years in order to save enough money to pay for four years of college at a University of California (UC) school? That’s right – with college cost of attendance (COA) at a UC coming in at…

4 Tax Saving Strategies for College Funding

It seems there are as many ways to save for college as there are colleges. It pays to do some research and understand ways you can not only save for your child’s education, but save on your tax bill at the same time. Depending on how much college costs, it’s possible to use tax strategies…

529 Plan Basics: Pros, Cons and Strategies

One strategy that many families use to save for college is to invest in a 529 plan. What is it? A 529 plan is a tax-advantaged savings plan designed to encourage saving for future college costs. 529 plans, legally known as “qualified tuition plans,” are sponsored by states, state agencies or educational institutions and are…

Top 8 Financial Aid Planning Tips

We all know college can be expensive. How can you begin preparing for your child’s education now? Texas A&M University offers a lot of great financial aid planning tips for parents on their site. Here are 8 of my favorites: Create a college savings plan. Your greatest asset is time. The sooner you start saving…

Federal Student Loan Default Rates: What You Need to Know

It’s no secret this is a tough economy for recent college graduates. Jobs are scarce and tuition costs are high. In fact, according to the Department of Education (ED) federal student loan default rates climbed to 8.8 percent in 2009, the most recent year for which data is available. This marks the fourth year in…