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“Parents tend to prefer the 529 plan because they’re the account owners — not the minor,” says Joe Conroy, a certified financial planner and owner of Harford Retirement Planners.
“[A 529 plan] includes tax-free growth and distribution for qualified educational costs, including tuition, room and board and even a laptop if needed for schooling,” said Daniel Masuda ...
A 529 plan comes in two major types: (1) a college savings plan, which allows you to invest money in potentially high-return assets such as stocks, and (2) a prepaid tuition plan, which allows you ...
Brian Safdari is the founder and CEO of College Planning Experts, Inc. [1] [2] College Planning Experts is a consulting firm based in Valencia, California that advises high school students and their parents throughout the process of getting accepted to the college of their choice, maximizing financial aid, and paying for college.
529 plans are named after section 529 of the Internal Revenue Code—26 U.S.C. § 529.While most plans allow investors from out of state, there can be significant state tax advantages and other benefits, such as matching grant and scholarship opportunities, protection from creditors and exemption from state financial aid calculations for investors who invest in 529 plans in their state of ...
In the college financial aid process in the United States, a student's "need" is a figure that colleges use when calculating how much financial aid to offer a student. It is determined by taking the college's Cost of Attendance, which current rules require each college to specify. Then it is subtracted the student's Expected Family Contribution ...
Parents often meet with the school counselor during the process together with the student. [18] Advisors recommend that students get to know their school counselor. [19] The counselor usually works in conjunction with the guidance department which assists students in planning their high school academic path.
1. Don't Take Over the Experience. Ultimately, it's the student's milestone, not the adult's. "Should you get the 'Proud Mom' car decal? Yes! Should you confidently wear your 'University Dad ...
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