Paying for College
- by Joyce Dutton
- Published on 3/2/06
- Article views: 818
Many new parents find themselves faced with the prospect of paying for the child or childrens college educations, and with the rising prices of education many parents are starting to make plans early. This is the best way and saving early on and for many years will take some of the financial burden away and allow your child the freedom of attending college without the stress of paying for it. There are a variety of things you should start doing, however, if you are a new parent and want to get the most out of your savings before your child heads off to college.
When there are 15 years or more until college, then parents should open an Education IRA to save for their childrens college. This IRA has special restrictions and rules, so it is best to talk to your banking representative about the implications involved in this type of account. Also, when there are 15 years or more until college you may consider investing in some more aggressive funds. Aggressive investments should be reserved for this time period only because as the time for college nears you will want to ensure that the money is carefully guarded and not at risk.
When college is 10 15 years away you should begin organizing your portfolio to ensure you are on the right track. Also, any aggressive investments should be moved into more conservative funds if possible. During this time period you can also look into your states different plans for college savings as well as any tax breaks offered for this.
Many colleges are starting to offer prepaid college plans, so this could be an option during this time as well if you prefer to make payments over a long period of time.
When college is only five years away, you will want to make sure your investments correspond to the cost of college and that everything is stable and on the right track. If this is not the case, then you can either begin saving more aggressively during this time or rely on student loans to get your child through college.
When your child begins college if you realize you can pay for some of his or her education, but not all, then take out parent or student loans to make up the rest. However, take out the least amount of money in loans as possible. Although student loan interest rates are low, you will not want to be in more debt than necessary.
Also, once your child is actively enrolled in college there are different tax breaks that you can file on your tax return that will help out significantly. When it comes to paying for college, starting early and making a plan is the best way to go about it.
Joyce Dutton is the Operative and CEO of
Lacon College, a leading Internet directory for college links and articles.
More Articles
-
-
-
» Latest articles
-
» Highest rated articles
- Advantages of Taking a CLEP Exam
The College Level Examination Program, also known as CLEP exam, accelerates your educational plans and saves you money! Rather than spending four boring years to get your degree, have you ever considered finishing your degree in only 2 years?
- Higher Education Sized to Fit
What is the most important thing you should know before selecting a degree program? Your self. Understanding your own learning style will help you select a program that suits you-making the journey toward a higher degree more profitable and pleasurable. Universities have responded to the need for flexibility, portability and convenience by responding to different learning styles.
- Perfection in research paper and term paper writing
If we summarize this whole article so we are trying to spread the correct phenomena about 'Term Paper Writing' Everything has their rules and regulations as well as limits. Every type of writing has their own value. Term paper writing, article writing and essay writing are does suppose to be a same type of writings.
- How to Write an A+ Term Paper
Try to write in such a way that makes your supervisor emotionally involved in your term paper. How to write a term paper comprises of various academic writing styles and methods. Term paper writing requires finesse and for that you can be a top quality term paper writer.
- Creating A Thesis Statement
In writing a good thesis statement one should be extremely sure about what he/she is writing about and why. A thesis statement is an account that explicitly identifies the purpose of the research and previews the main ideas.
- Advantages of Taking a CLEP Exam
The College Level Examination Program, also known as CLEP exam, accelerates your educational plans and saves you money! Rather than spending four boring years to get your degree, have you ever considered finishing your degree in only 2 years?
- Higher Education Sized to Fit
What is the most important thing you should know before selecting a degree program? Your self. Understanding your own learning style will help you select a program that suits you-making the journey toward a higher degree more profitable and pleasurable. Universities have responded to the need for flexibility, portability and convenience by responding to different learning styles.
- Creating A Thesis Statement
In writing a good thesis statement one should be extremely sure about what he/she is writing about and why. A thesis statement is an account that explicitly identifies the purpose of the research and previews the main ideas.
- Paying for College
Many new parents find themselves faced with the prospect of paying for the child or childrens college educations, and with the rising prices of education many parents are starting to make plans early. This is the best way and saving early on and for many years will take some of the financial burden away and allow your child the freedom of attending college without the stress of paying for it.
- Perfection in research paper and term paper writing
If we summarize this whole article so we are trying to spread the correct phenomena about 'Term Paper Writing' Everything has their rules and regulations as well as limits. Every type of writing has their own value. Term paper writing, article writing and essay writing are does suppose to be a same type of writings.
- How to Straighten Out Your Tax Affairs in 2010
Utter the word 'taxes' in front of people and you are sure hear a loud groan. Frankly, there are valid reasons behind this response: First of all, paying your taxes annually can be a financial burden, especially with the economic hard times which we are going through these days.
- Benefits of Yoga - Redefining Life, Meditation and Exercise
Yoga is a complete exercise for the mind, body and soul and it can give a person a change to know himself in a new light. Regular practice of Yoga has been known to reduce stress, increase concentration and also benefit one's overall health.
- The Best Floral Perfumes
Floral perfumes are considered the best perfumes all over the world. In fact the history of perfumes says that floral perfumes are the first perfume category of the world and thus popular also. Floral perfumes represent the essence of love and romance.
- Coffee Gift Baskets
Even a Coffee Bean or San Francisco Coffee outlet frequenter will not be able to master the art of appreciating true gourmet coffee unless they know the history and information about gourmet coffee.
- Rent a car in Israel
If you are already in Israel and wish to rent a car, then you can make a booking and tell the service to pick you up from wherever you are. The best part about car rental in Israel is that they are extremely flexible.
- Jogging - Health Benefits and How to Do it
Jogging gives joy, has positive effects on health and improves the physical condition. In the beginning, your jogging program must consist of short sessions on a plain ground, and with a moderate speed. Gradually you can lengthen the route and add intervals with higher speeds to your sessions.
- How Exercise Affects Your Cholesterol Levels
Everyone already knows that exercise is an important part of a healthy lifestyle even if certain people choose not to exercise at all. The fact that only around 10% of American adults exercise at least three times a week however may indicate that many people are not aware of just how beneficial exercise really can be.
- Symptoms, Causes and Treatment of Depression
The main symptom of depression is sadness or low mood level, but many other mental and physical symptoms also occur. Here are symptoms, causes and treatment options explained.
- Top 7 Benefits of Massage Therapy
Massage is a remedial procedure that is highly beneficial for the entire system of the body. Massage has several health benefits. Few of them are listed in this article.
- A History of Vintage Automobiles - From 1916 to 1924
Before cars were around, people usually traveled distances using horse-drawn carriages. But as early as 1335 several bright minds have been trying to come up with a 'horseless carriage'.
