Saving for College Fargo ND
Saving for College
By Harold Simansky
Educational Investment Advisor
As we emphasized at the start of these articles, a college education is the greatest investment you can make – but it is undeniably pricey and this situation is not going to improve as your child grows up. What better argument for getting started on a savings plan as soon as possible?
In our discussion of the many decisions parents like you face in saving for college, we have covered the advantages and disadvantages of a variety of savings programs and showed you some ways to maximize financial assistance and your investments. We could not, of course, touch on all of the savings programs available out there, and two additional options may be worth considering. One is U.S. Savings Bonds, which under certain circumstances are tax-free if used for education. The other is Individual Retirement Accounts, which may be used penalty-free for education.
Saving for college involves making many choices, and making them wisely. We hope these articles have provided you with a useful roadmap as you get that important savings program underway. Here, again, are the basics for managing and achieving your family’s educational goals.
Understand how much school will cost, how much financial aid you will receive, and how much you need to save.
- Use a worksheet like the one included in Article Two - "Costs, Financial Aid and Saving" or access one at www.educationalinvestments.com to help you with this process.