Financial prep for college
September 25, 2018
I’m Miriam Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money
M This month many are adjusting to the school year. College may see like a long way off. Many parents pay attention when their child enters Senior year, a costly delay.
V College 529 Savings Plans can be opened when a child is born, your child, or a relatives. These investment accounts, state administered are to be used for qualified education expenses. Earnings grow free from federal income tax. Some states offer a tax deduction for contributions. Qualified expenses include tuition, mandatory fees, textbooks, computers and software, even room and board if enrolled in at least half time in some cases.
M These funds can also be used for trade and vocational schools. Possibly a wise investment for your child’s future.