Reported 4 days ago
With college tuition climbing towards $100,000 annually, families must make informed savings decisions to avoid compromising their financial goals, including retirement. Experts suggest starting education savings early and involving family members in funding discussions. Key considerations include the types of savings accounts, their flexibility, tax efficiency, and impact on financial aid. While 529 plans are often recommended for their benefits, exploring a mix of options like Coverdell accounts can provide additional flexibility. Furthermore, completing the FAFSA is crucial for accessing federal loans and potential scholarships.
Source: YAHOO