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Paying for college is a process that should begin before you even think of going to college. Here are some tips about planning for college monies early and smart.
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529 plans are great ways to save for college, for your children, and even for yourself. Federal Tax Law allows you to put in deposits of over $300,000 each year per beneficiary, and federal taxes on that contribution are deferred. When you withdraw the funds and any investment earnings and use those funds for education, those dollars are also tax-free. 529 plans are usually operated by states, and every state now has at least one 529 plan.
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If you are like most people with children, you know that you should be saving for college. But, the mere thought of investing; choosing the proper allocation of stocks, bonds, and funds; and then managing these investments for many years to come can send shivers up anyone's spine!
There is an answer - 529 college savings plans. 529s are special tax-advantaged plans. Not only are these savings plans easy to use, they are certainly one of the best college investment strategies available to you.
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One option that most parents choose when it comes to college savings plans is the 529. For those in the dark, this plan lets you invest a certain amount of money every year in stocks, bonds, mutual funds, and other investment options with the understanding that the money will be used to fund your child's education.
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While purchasing textbooks at the university bookstore is convenient, it can cost significantly more than other suppliers charge for exactly the same books. By planning ahead and choosing a less expensive method for obtaining needed textbooks, students can save big and pocket the difference in price. Here are a few tips that can help students save money on their required textbooks.
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Both students and their parents benefit from finding ways to save on textbook costs, but it takes more than walking into your college campus bookstore, finding the course list for required texts, and picking them up. College students today also have to be savvy shoppers.
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A four-year private education can now cost up to $180,000. While the cost of an education is rising, financial aid for students (Perkins Loans and Stafford Loans) is decreasing. Congress cut government-sponsored student financial aid by 12.7 billion dollars, so it is now necessary for more families to find supplemental funding.
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Today's college education costs A LOT! Most everyone has to borrow something to cover all the expenses. The big question is - When do you stop? When is the amount you borrow no longer worth it in your future? What is practical in the long run?
Ther are several questions there, but they amount to the same thing: What is enough? You and/or your parents should not just borrow blindly or to fulfill a wish. You and they have to be reasonable and protect yours and their futures.
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Going to college is expensive. You can never have enough money, even if you were lucky enough to get a full scholarship. There are other expenses like books, food, clothes, and travel. For most, it's more like paying tuition and room and board.
Of course, you can always work. Most students do. They work 20+ hours a week, sometimes jeopardizing their study time to do so; and they usually only make minimum wage while still having to finance a car to travel back and forth.
We have some suggestions for college students to work smart at college that might help you make ends meet.
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Paying for College 
