College Planning

Planning for College­

­Attending a good college is every child and parent’s dream. This dream is achievable if parents have planned in advance. Below are some tips for college planning:

Financial Aid Deadlines

Federal Student Financial Aid DeadlinesThe 2008-2009 School Year (July 1st, 2008 - June 30th, 2009):

Using Real Estate to Fund your Child's Education

There is a very cool way to fund your child's education while avoiding huge taxes and having full control over your child's education. This way is by investing into real estate.

Should I save for my retirement or my child's college education?

Funding a 401k or IRA for retirement or child's 529 college saving plan Parents are sometimes required to make a choice between funding their own retirement account or child's education savings account. While they may take the emotional decision of funding their child's college, it may not be the financially  sound decision as it makes more sense to fund the retirement account. There are several reasons: 1. Parents will need their retirement money when they get old and are unfit to work. 2. Their child's education always can be funded through scholarships, grants and student loans. 3. They u can always do a second job or their child can always get a summer or part time job to find their education. 4. A grandparent, an aunt or uncle may decide to fund their child's education.

Tax Benefits for Education

Education Tax Credits One of the top benefits of getting the college education in the United States of America is the great tax benefits to parents and students. It is very important to understand these benefits before you start planning for college education for your child or yourself. Why does Federal Government offers education tax benefits?

Saving for college education with US Treasury Bonds

US Treasurey Bonds such as EE and I savings bonds are a great way for you to start saving for college. These bonds are guranteed by the US Government and IRS allows tax deducations if they are applied towards the education.

What are the requirements? If you have purchased a U.S. savings bond which is series EE bond issued after 1989 or a series I bond, you may qualify for a tax break. The bond must be issued either in your name (as the sole owner) or in the name of both you and your spouse (as co-owners). The bond owner must be at least 24 years old before the bond's issue date. Below is the list of the requirements to enjoy this tax break: 1. You must pay qualified education expenses for yourself, your spouse, or a dependent for whom you claim an exemption on your return. 2. Your modified adjusted gross income (MAGI) is less than $78,100 ($124,700 if filing a joint return). 3. Your filing status is not married filing separately.

Alabama Prepaid Affordable College Tuition (PACT) Program

PACT College Saving Plan for Alabama 

Plan Enrollment Information and Review

State Served: Alabama

Type of Plan:  Prepaid Savings Plan

Alaska 529 College Saving Plans

Alaska 529 Plan

There are three different 529 College Saving Plans for Alaska residents:

1. T. Rowe Price College Savings Plan

2. John Hancock Freedom 529

3. University of Alaska College Savings Plan

Key Features:

Washington 529 Plan

The Guaranteed Education (GET) - 529 Plan for the Washington State The Guaranteed Education Tuition Program is Washington State sponsored 529 prepaid college tuition plan.

529 Plans

Introduction to 529 Plans - Colleg­e Saving Plans­
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