Only about 36% of students graduate in 4 years so you are looking at over $100,000 for four or more years of college. A CollegeChoice 529 plan is the best way for families to start preparing for post-secondary educational expenses.
- On College 529 accounts there is one person on the account but you can name anyone as the beneficiary. Anyone can apply for a 529. How much money they put into the account is up to them. It only takes 10.00 to start an account.
- You can change your investment portfolio every 6 months.
- On a 529 you are contributing dollars that you have already paid taxes on. When you withdraw the money you won’t have to pay taxes. You can use this month for colleges, trade schools, etc… It just has to be a place that accepts financial aid. This can be used for grad school as well.
- We have a state tax credit. 20% up to $1,000 maximum per year for contributing per household credit. The money only has to be in the account for 10 days before you start taking money out. Plus you get the tax credit.
- The money has to be in the account and posted by December 31st or you don’t receive a tax credit for that year. It will be on the following years taxes.
- You can set up an account at Collegechoicedirect.com and there are no advisor fees.
- Phillip Waddles is a great resource! You can contact him at 317-332-0787 or Phillip.email@example.com He will come and talk to students and or parents about the College 529. Just email or call him to set this up. If you have a college night this would be a great time to let him have a booth.
- 21st century scholar doesn’t necessarily pay for everything. It depends on what college they go to. The college 529 plan is great for these students as well.
- In regards to FAFSA this falls under savings.
- Google ugift- relatives or friends can give money for children and receive a tax credit.
If you have suggestions, feedback, or resources, please email firstname.lastname@example.org and let us know.