Getting the Most Out of Your College Savings Accounts
By Jodi Okun
Calculating Future College Costs
Since saving for college is both crucial and takes money away from other financial goals, it's important to know exactly how much you should be saving.
- Step-by-Step Instructions to Calculating College Costs
- The Basics of Tuition, Room, and Board
- Understanding the Rising Costs of College
Types of College Accounts
Many parents make the critical mistake of worrying too much about what investment to purchase, and not enough time worrying about what type of account they purchase it in. Since no two families are the same, choosing the right account can make a huge difference on everything from financial aid to the amount of taxes a family pays.
- Choosing the Right College Account
- Section 529 Plans
- Coverdell ESA's
- Custodial Accounts (UGMA and UTMA)
Investing Wisely in Your College Account
While starting to save is the first step, the money put into college accounts must actually grow to make a difference. Choosing the right investments now will give you the flexibility to choose the college of your dreams in the future.