|
|
5 Advantages Of Online College Degrees
More and more students, both those of teen and young adult age and those who are looking to complete their college education following a period away from studying, now look at online college degrees as a preferable option to finishing their higher...
EVEN MORE COLLEGE ROOMMATE TIPS
Living with a roommate will probably be unlike anything you have done in your life until now. To help you adjust to your living situation, we offer the following advice: Be realistic. Don't expect your roommate to be your best friend and constant...
Money Making – Money Saving Tips for College Students
Money is something that is difficult to get, but easy to get rid of. However, if you are smart about handling your money, you can get through college or university paying less and making more. While studying, the main source of income for you is...
Reduce College Debt with Scholarships
Six Scholarship judges were sitting around an oval table. Forms
were piled into 50 boxes. Each one had the name of a state. I
looked at the boxes and wondered why some of them were
overflowing and others had just a few. This was the first...
The Value Of A College Education
It costs a lot to go to college or university and the increasing costs have many wondering if there is real value to a college education. Is the cost of tuition, the time lost to full-time employment, and the thousands of dollars of debt worth the...
|
|
|
|
|
|
|
|
Options For Designing A College Savings Plan For Your Child’s Higher Education
With the trend of college tuition increasing rapidly an effective investment saving plan for your child’s education is becoming more important than it has ever been in the past. Many parents will find that their future college costs will be much more than they have saved for their child’s college education. This leaves many kids to be faced with financing a portion of their college education with financial aid. This article will look at the advantages and disadvantages of 3 common college savings options. Additionally, this article will also explain which of these 3 options are the best if your kid’s college education is to be funded by financial aid.
529 College Savings Plan: A 529 plan allows just about everyone to save for their kid’s college education and it is a fairly new option for allowing your college savings to grow tax free. Perhaps the most important benefit of a 529 plan is that your investment earnings grow tax free if you use the funds for qualified education expenses. Another big advantage is that the maximum amount you can contribute to a 529 savings plan can go as high as hundreds of thousand dollars depending on your States guidelines. If for some reason you do not use the investment funds for college, you can still withdrawal your investment earnings, but you will have to pay a federal penalty of 10% and federal income taxes on your earnings. The penalty can be waived if your child receives a college scholarship, or in the event your child becomes disable or dies.
A 529 plan can typically be easily purchased through an investment broker or mutual fund company. Please be aware that one of the biggest disadvantages of a 529 plan is that investment options can sometimes be limited however that is likely to change as they become more popular. One last main advantage of a 529 college savings plan is that the money in the plan is classified as a parents assets so less that 6% of the value counts against your kid’s eligibility for financial aid.
Coverdell Education Savings Account (CESA) (formerly known as an Educational IRA): A Coverdell Education Savings Account is a savings account
created as an incentive to help parents save for college education expenses. A Coverdell Education Savings Account is easy to set up at most financial institutions. The main difference between a Coverdell Education Savings Account and a 529 plan is that with a Coverdell Education Savings Account you can only contribute $2000 per child per year and to qualify your adjusted gross income must be less than $110,000 if you are single and less than $220,000 if you are married filing jointly. For financial aid eligibility a Coverdell Education Savings Account is classified as a parent’s asset so less that 6% of the value counts against your kid’s financial aid eligibility.
Taxable Investment Accounts: A taxable investment account is just a regular account that earn taxable interest, or investment income. Taxable investment accounts can be a broker account, a mutual fund, a certificate of deposit or just a regular savings account. The biggest disadvantage to taxable accounts in saving for college is that they offer no tax advantage for college savings. The biggest advantage of taxable investment accounts is that they offer lots of flexibility, and are easy to set up at any financial institution. Lastly a taxable investment accounts are classified as a parent’s asset so they do not count as a huge negative in the financial aid formula.
Overall, a college saving plan can be a important decision for parents to consider. The above 3 investments can be highly beneficial if used correctly in the college planning process.
About the author:
Copyright (c) 2005, by Jay Fran. This article may be freely distributed as long as the copyright, and one of the below live link is published with the article.
http://www.motorcycle-financing-guide.com/3101-easy-motorcycle-financing.html
Jay Fran is a successful author at motorcycle-financing-guide.com, a website that focuses on providing top quality information on online motorcycle financing.
|
|
|
|
|
SAT Registration - SAT Scores - College Search - College Admissions |
Organization representing hundreds of colleges responsible for the Scholastic Assessment Test (SAT), the Advanced Placement (AP) program, and various equity ... |
www.collegeboard.com |
  |
CollegeNET - Online College Applications and Free Financial Aid Search |
Guide to colleges, universities, and graduate programs. Provides information on college admissions, links to academic resources, and online applications. |
www.collegenet.com |
  |
college times |
www.nytimes.com/college/ - Similar pages |
|
  |
Dartmouth College |
Welcome to Dartmouth, a private, four-year liberal arts institution that has been at the forefront of American higher education since 1769. |
www.dartmouth.edu |
  |
USNews.com: America's Best Colleges 2007 |
Top Liberal Arts Colleges · Comprehensive Colleges · Top Northern · Top Southern · Top Midwestern · Top Western · Engineering Programs ... |
www.usnews.com |
  |
CollegeView — College Finder & Recruiting Service |
A free online college search service with extensive profiles of all the accredited colleges and universities in the US, including updated contact ... |
www.collegeview.com |
  |
Swarthmore College :: Home |
Swarthmore College 500 College Avenue Swarthmore, PA 19081 ... A personal view of the College's program in Argentina's capital from the first student to ... |
www.swarthmore.edu |
  |
College Humor |
Everything that's funny on the Internet is right here. Funny pictures, funny videos, and lots of boobies. |
www.collegehumor.com |
  |
The College of William & Mary | W&M |
Chartered on February 8, 1693, by King William III and Queen Mary II as the second college in the American colonies. Severed formal ties with Britain in ... |
www.wm.edu |
  |
Reed College |
Portland, Oregon liberal arts college noted for rigorous academics and independent study. |
www.reed.edu |
  |
Yale University |
Yale University comprises three major academic components: Yale College (the undergraduate program), the Graduate School of Arts and Sciences, ... |
www.yale.edu |
  |
Williams College |
Official site for this four-year liberal arts college in Williamstown, Massachusetts. 2000 students choose from 30 majors in 24 departments. |
www.williams.edu |
  |
Amherst College |
One of the Five Colleges, this school is consistently ranked one of the top liberal arts colleges in the nation. |
www.amherst.edu |
  |
HAMPSHIRE COLLEGE |
A private liberal arts college in Western Massachusetts. |
www.hampshire.edu |
  |
Smith College |
A private liberal arts college for women located in Northampton, Massachusetts. A highly selective institution with an undergraduate enrollment on campus of ... |
www.smith.edu |
  |
College - Wikipedia, the free encyclopedia |
The institutions formerly known as "Teacher-training colleges" now style themselves ... In Portugal the term college (colégio) is mainly used to refer to ... |
en.wikipedia.org |
  |
Davidson College |
An independent liberal arts institution founded by Presbyterians. Contains a calendar of events, history, academic information, alumni and admissions. |
www.davidson.edu |
  |
Emerson College - Bringing Innovation to Communication and the Arts |
Emerson College is the nation's only four-year college devoted exclusively to the study of communication and performing arts. |
www.emerson.edu |
  |
Middlebury College |
Panthers outdoor official site. Coaching staff, roster, schedule, school records, and past season information. |
www.middlebury.edu |
  |
The Pomona College Web |
Private liberal-arts college with a focus on the arts, literature, and languages. A founding member of the Claremont Colleges. |
www.pomona.edu |
  |
|