首页
北京快三 > Financial Aid > College Savings Accounts

College Savings Accounts

When it comes to paying for college, not every student will land a full-tuition scholarship, and federal student financial aid seldom takes care of all college costs. If you're a parent or relative looking ahead to cover costs and reduce loans, finding scholarships is a great step, but also consider planning ahead and research college savings plans.

529 Plans

529 Plans are state-operated accounts that offer tax advantages when used for qualified educational expenditures. Each state offers at least one 529 plan. The two types of 529 plans are prepaid tuition plans and college savings plans. Prepaid tuition plans allow parents to purchase tuition credits that will cover the cost of future college expenses at their current rate - typically at in-state, public universities. College savings plans, although more flexible, do not offer a guarantee but come with a variety of investment options and opportunity for higher returns.

Roth IRA

Roth IRA's are special retirement accounts where you pay taxes on money going into your account and then all future withdrawals are tax-free. Roth IRAs can be used to save money for school. As long as you're withdrawing contributions, rather than earnings, there is no penalty if you are using the money from your IRA for educational expenses. However, a college savings plan may be a better option if you're setting up an account specifically for your student since contributions to a Roth IRA must come from the beneficiary's earned income. Dipping into your retirement funds to pay for college is widely regarded as a less than ideal choice by financial experts.

UTMA

The Uniform Transfer to Minors Act allows a minor to receive gifts without the help of a guardian or trustee and without the establishment of a trust. While the aforementioned options have been either savings accounts or investments, UTMA covers everything, including property. An adult manages these assets in a custodial account until the owner reaches the age of 18 or 21, depending on the state. In the meantime, the funds in the account can be used to benefit the child, including taking care of educational expenses. Once the owner reaches the age of majority, the assets are theirs to use as they please. This can mean paying for school, or it can mean making less desirable financial choices. Since these assets belong to the student, they would count against them for student financial aid.

Latest College & Financial Aid News

Online AP Testing Starts This Week

May 12, 北京快三

by Izzy Hall

Some 3.4 million students have registered to take the AP Exams this year, which began on Monday, but they’re not taking the typical pencil-and-Scranton tests. Instead, students this year will be taking an abridged version of the AP Exams online. The traditional marathon-like tests have become free response exams that will last for just 45 minutes. This change, among many others, has garnered lukewarm reception even before testing began. Will these altered AP Exams carry the same weight as normal tests? And how will students perform on them, given all that has happened since the last time their AP courses convened in the classroom? [...]

Quarantine Graduation Party Ideas 北京快三

May 8, 北京快三

by Susan Dutca-Lovell

Graduation is right around the corner for the class of 北京快三, and given the copious amount of event cancellations, many students won't have the traditional ceremonial experiences they've been looking forward to the past four years. Times may be changing, but the graduation festivities can still go on in extraordinary ways - don't forget you can always plan for an official, in-person party at a later time, when things calm down. For now, here are unique ideas for throwing your upcoming quarantine 北京快三 graduation party. [...]

Graduation Ceremonies 北京快三: Quarantine-Style

May 7, 北京快三

by Susan Dutca-Lovell

One of the biggest milestones that students look forward to throughout their educational career is the high school or college commencement. Donned in their cap and gown, students have proudly walked across a stage in front of their peers, educators and families, to receive their diploma or degree in-hand, perhaps followed up by a hug or handshake from their educators, as a sign of congratulations and respect for all of their hard work over the course of many years. [...]

Last Reviewed: May 北京快三

友情链接:787棋牌 万豪棋牌 三多棋牌 九五棋牌 全民棋牌 博乐棋牌 斗牛棋牌 易发棋牌 杰克棋牌 比特棋牌