Terms of Use If you're good at planning ahead, you may have thought about it before your child was even born, perhaps while you were shopping for a bassinet and teddy bears. At any rate, you probably started thinking about it when your child was very young. After all, it's one of the major responsibilities you face as a parent: your child's college education. Personal growth and expanded horizons are reason enough to send a child to college, but there are more practical considerati  More...

Terms of Use 529 plans are one of the more popular options for families saving for their child's college education. Although the plans do differ from state to state, they are all exempt from federal income tax, giving you a real boost to your college fund. What is a 529 plan? A 529 plan is a state-operated plan that gives families a federal tax-free way to save money for college. Specific plan attributes vary by state but all have several common features. What are the two types of 529 plan  More...

Terms of Use What is a Coverdell ESA? Formerly called Education IRAs, a Coverdell Education Savings Account (ESA) is a type of IRA that allows you to make nondeductible contributions up to $2,000 annually for anyone under the age of 18 or a special needs beneficiary of any age. Assets in a Coverdell ESA must be used for qualified education expenses before your child (the designated beneficiary) turns 30 in order to be withdrawn tax-free. Coverdell accounts offer individuals a simple savings mec  More...

7 Terms of Use You have several alternatives for saving for your child's -- or for your own -- education. The table below gives you a quick way to compare your choices. Feature The 529 College Savings Plan (not prepaid tuition) Custodial Accounts for Minors (UGMA/UTMA) Coverdell Education Savings Account (AKA Education IRA) Part of Parents' Savings and Investment Accounts Guidelines for Use of Assets Qualified Expenses C an be used for qualified higher education expenses, within limits  More...

Terms of Use With college costs on the rise, many facing the choice to go to college also have to consider taking out student loans in order to pay for it. The following looks at various options. Be sure to contact the college financial aid office for additional assistance. Before you begin the loan process, look into sites such as Finaid.org or Collegeboard.org to look for scholarships and grants. Since these don't have to be paid back, it's free money. Another option to explore  More...

Terms of Use The SAT is designed to assess your problem solving and critical thinking skills. It is English and math based where your verbal and math skills are being tested. The SAT is very challenging and most will prepare before taking it. There are free and fee-based resources available. Quick rundown: Max score of 1600. Guessing is okay. There's no penalty for wrong answers so give it your best shot. You have a 25% chance of a correct answer. Limited choices. The multiple  More...

Terms of Use So many college options are available these days that you'll be able to find a college offering courses you need at prices you can afford. Really . And help is available if you and your family can't pay the total cost and you qualify for student financial aid. Today, more than half of college students get financial aid. A great deal of financial help is available from colleges, states and especially the U.S. Department of Education. If you want to go to college and are wil  More...

Terms of Use Many colleges require the SAT (Scholastic Aptitude Test) for admission because it is a standard way of measuring a student's ability to do college-level work. Because courses and grading standards vary widely from school to school, scores on standardized tests, like the SAT, help colleges compare your academic achievements with those of students from different schools. Remember, too, that colleges look at other things when making admission decisions -- like your high school reco  More...

Terms of Use The costs of colleges and trade or technical schools vary widely. It can cost as little as $200 or as much as $30,000 or more per year. College costs: According to the College Board, here is the national average costs for 2024-2025: Basic tuition and fees: the amount of money that a college charges a student each year to enroll and receive instruction, plus other amounts a college requires a student to pay (such as athletic fees, social-activities fees, and health-care costs). F  More...

Terms of Use While paying for college may seem a daunting task, help is available from the state, the federal government, colleges, private scholarships and grants, and other lending sources. To apply for financial aid, you must first complete a “Free Application for Federal Student Aid” or FAFSA. You can get a FAFSA through the U.S. Department of Education, colleges, libraries or on the Internet at FAFSA ® Application | Federal Student Aid . FAFSAs are accepted for the upco  More...