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The new Simplified FAFSA is here! Here’s a quick video with some tips that will help you get through it with a minimum of chaos and maximum of financial aid. 🔗
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How America Saves for College - 2018
Insights from Sallie Mae’s 2018 How America Saves for College report.
Series EE and I Bonds
Many parents and grandparents purchase education savings bonds– series EE or series I bonds– to pay for college. These bonds are tax-free within some limits, and it’s not uncommon for families to find out too late that they’ve landed outside the limits.
What’s a 1098-T?
If you have a college student, you (or they) probably received a form 1098-T. Schools are required to send this to any student who paid qualified higher education expenses. Here’s what you need to know about your 1098-T
College Savings and Education Outcomes
Did you make a New Year’s resolution to save (or save more) for college? If so, you may be increasing the odds that your student will attend and graduate. Research shows that, across income levels, students who have savings designated for college are more likely to attend and graduate.
Dear Tyler & Isabella, Let’s Pick a College
Today’s post is written by a fellow fee-only advisor, Richard Freight, CFP®, EA, of IAM Financial, who is a father of two who will hopefully be college-bound.
Rebalancing 529 Accounts
You can rebalance your 529 plan account twice a year. Just because you can, should you? If you’re in an age-based investment option, you don’t need to rebalance to maintain the correct asset allocation. Learn more…
Grandparent College Savings
One question I get a lot in my financial planning practice is “How should I help with my grandchildren’s college costs?” There are many options: opening a 529 account on your own, gifting into the parents’ 529 accounts, UTMAs, direct payment of tuition, just to name a few. The answer, as is so often the case, is It Depends.
College Savings Rewards Cards
I’ve heard about credit cards that deposit money into 529 plan accounts instead of offering air or hotel points and they have always seemed like a reasonable option for some incremental savings. Then last week I met with a client who uses one and has over $16,000 in a 529 account, just from credit card points! That is free money on a pretty grand scale.
Rebalancing 529 Plan Accounts
If you want to change any of your 529 account investments, now is a good time to do so. That’s because you’re allowed to make changes to your investments twice a year. If you make changes now, you’ll still have both opportunities in 2016. If you wait until January, you’ll be using one of your 2016 changes.
529 Contributions for Tax Purposes
529 savings plan tax planning strategies to best position your financial situation for the FAFSA.
529 Plan Withdrawals
Strategies for using your 529 savings plan to pay for college expenses once the bills start showing up.