Reported 20 days ago
With rising student loan debt in the U.S., parents are advised to start saving for their children's college education. Finance expert Daniel Roccato highlights four key savings options: custodial accounts, which are easy to open but give children full control upon adulthood; U.S. savings bonds that offer tax-free interest for educational use but have income limits; Education Savings Accounts (similar to IRAs) that allow tax-free growth with a $2,000 contribution limit per year; and 529 plans that have no contribution limits and permit tax-free growth depending on state regulations.
Source: YAHOO