Tips

  • Tips # 29-30: Think about how often you want to contribute to your account

    September 30, 2013 Tip # 29: You can move savings from one plan to anotherIf you are moving or wish to switch to another state’s 529 plan, the account owner can choose to move funds from one state’s 529 plan to another states’ plan one time within a 12-month period for the same beneficiary. Tip […]

  • Tips # 27-28: When you save the interest is paid to you

    September 29, 2013 Tip #27: Have complete security of your 529 accountSecurity is of the utmost importance when opening a college savings account. As an account owner you are in complete control of your account, including changing beneficiaries, timing and payees of distributions, investment selection and funding method. Tip #28: Saving is better than borrowing: […]

  • Tip # 26: Alter your spending habits a small amount each week

    September 26, 2013 Alter your spending habits a small amount each week to help your college savings account grow. For instance, the average US family spends more than $200/month eating out. Cut that in half over the next 10 years and you could add over $12,000 to your college savings.

  • Tips # 24 & 25

    September 25, 2013 Tip # 24: Increase the chances of attending collegeOpening a 529 account will increase your chances of attending college. According to research, students who have a college savings account in their name are six times more likely to attend a four-year college compared to children with no dedicated college savings account.  Tip […]

  • Tips # 21-23

    September 24, 2013 Tip #21 Open an online 529 accountAlthough it may seem like an insurmountable task, opening an online account is quick and painless, taking up about ten minutes of your time and basic information. Get started now! Tip # 22: 529 plans are cost-effective and tax-advantagedOpening a 529 plan is more cost-effective than […]

  • Tips # 18-20

    September 23, 2013Tip # 18: Saving is a better option than student loansThe average student loan debt is more than $27,000. Though low-interest loans are often available for college financing, paying even small amounts of interest can add up considerably over long periods of time, making saving a better option. Tip # 19: Define your […]

  • Tip # 17: Most 529 plans have low minimums

    September 17, 2013If cost is a concern, it’s important to know that most plans have very low minimum monthly contribution limits making them attractive to families regardless of income level. Some states have minimum limits as low as $15.

  • Tip # 15: Use your 529 plan to cover qualified education expenses

    September 15, 2013 The price of housing and food trumps tuition costs for students who attend two- and four-year public universities in their home states, according to a College Board survey. Money from a 529 plan can be used to pay for tuition, fees, room, board, books, supplies and required equipment.

  • Tip #13: Find the plan that best fits your needs

    September 13, 2013 When choosing a 529 plan, compare all available plans. Many states offer their plans to non-residents. If your state plan does not offer the features you are looking for, you can choose to participate in another state’s plan.

  • Tip #12: Check out www.CollegeSavings.org

    September 12, 2013Spend a little bit of time with the many excellent 529 resources available on the CSPN website for free.  They will help make taking the first step simple and easy.