Graduation Debt » parents

5 Steps for Utilizing 529 College Savings Plan Funds

Reyna — Wed, 15 Aug 2012 23:00:41 +0000

Parents of students starting college this fall can finally withdraw the funds they’ve worked so hard to accumulate in their 529 plans, education savings plans with tax benefits.

But before parents request funds from their plan administrator or adviser, they have to be aware of key details, such as when tuition is due and how long it takes to ask for a distribution of funds and receive the check.

Read the full article at usnews.com. . .

3 Ways to Ask for Contributions to 529 College Savings Plans

Reyna — Tue, 14 Aug 2012 19:22:28 +0000

Four-year tuition and fees for public universities will be $95,000 for kids starting school in 2028, estimates savingforcollege.com. To meet those needs, parents are seeking help from friends and relatives to pay for college.

Some new websites offer parents creative ways to solicit donations for education expenses. College savings registry sites offer an array of E-mail invitations for events, announcements for children’s educational milestones, and depending on the site, profile pages that show progress toward savings goals.

3 Savings Tips for Parents of Study Abroad Students

Reyna — Tue, 07 Aug 2012 00:19:15 +0000

Certified Financial Planner® John Gugle spent his sophomore year abroad attending Sophia University in Tokyo. “The opportunity to live and study outside the U.S.A. helped broaden my understanding of the world and ultimately helped provide career opportunities to work overseas for global companies,” Gugle says.

As part of Gugle’s work at Alpha Financial Advisors, LLC in Charlotte, N.C., he advises parents and students on how to utilize money saved in 529 plans, U.S. education savings plans with tax benefits, when studying overseas.

4 Costly Mistakes Parents Make When Saving for College

Reyna — Thu, 02 Aug 2012 03:55:55 +0000

“Depending on the number of children you have, paying for college is the most expensive event outside of paying for retirement,” says Fred Amrein, ChFC® and principal of Amrein Financial in Wynnewood, Pa. However, experts say, the total price of paying for college can be decreased by making smart decisions.

Here are four mistakes parents should avoid making:

Take These 4 Steps Before Opening a 529 Plan

Reyna — Fri, 27 Jul 2012 03:30:51 +0000

Curious how Jeff Howkins, president of Sallie Mae’s Upromise Investments, Inc., saved for college before 529 plans existed? Read Take These 4 Steps Before Opening a 529 Plan on usnews.com.

Veterans Education Benefits in New York State

Reyna — Tue, 05 Jun 2012 02:19:08 +0000

If you’re a veteran of the armed forces living in the state of New York, you should look into New York’s program for helping veterans and families of fallen and disabled heroes. Veterans of conflicts dating back to Vietnam could qualify for over $5,000 per year in tuition assistance. Tuition asistance can be used at public and private colleges. For details, follow this link.

For more tips on paying for your education, checkout my new audiobook “How Smart Students Pay for School.”

CollegeWeekLive Paying for College Webcast tonight

Reyna — Thu, 08 Mar 2012 16:07:08 +0000

Join me at 7p EST tonight for a chat about all aspects of paying for college. Future students, current students and parents welcome. Register for free anytime beforehand.

Andrew Asks: How Should I Pay for Grad School?

Reyna — Tue, 23 Aug 2011 04:17:10 +0000

Andrew emailed Mint asking how he should finance grad school. Are you considering graduate school? Checkout my answers.

Tax Mondays: 10 Ways to Wisely Spend Your 2% 2011 Payroll Tax Cut

Reyna — Tue, 15 Feb 2011 23:47:17 +0000

Have you noticed that your paychecks have been a bit larger than normal lately? That’s because in 2011, the government is cutting the social security payroll tax paid by individuals from 6.2% to 4.2%.

How much is that in stone cold cash? If your annual income is $40,000, that’s $800 over the course of the year divided among your bi-weekly or monthly paychecks. If you earn $80,000 annually, your extra pocket money is $1,600. For those who make $106,800 or above, you’ll see an extra $2,136. Since social security is taxed individually, married couples could get up to a $4,272 take home pay boost for the year.

Now, what should you do with your extra moolah? Sheryl Garrett, the author of the Personal Finance for Dummies Workbook, a Certified Financial Planner and founder of the Garrett Planning Network, suggests these 10 ways to wisely spend your money, in order of importance for increasing your financial standing for years to come.

University Payment Plans Vs. Federal Student Loans

Reyna — Fri, 21 Jan 2011 01:40:12 +0000

Want an alternative to student loan borrowing, but you don’t have thousands of dollars lying around? Checkout University Payment Plans Vs. Federal Student Loans.