Without sitting down and having a constructive discussion with your child, chances are that they will not make informed decisions regarding their future.
This guide examines the key college financial aid forms and offers actionable tips for completing your paperwork correctly and on time.
Taking the time to understand your child’s need-based financial aid options could save you money while ensuring your child receives a quality education.
One of the biggest things parents don’t account for when establishing a 529 plan is the potential for merit aid. If your child receives some form of merit aid, this could have both a positive and negative impact on the funds sitting in your 529 college fund.
You’ll need to follow your state’s rules to ensure that you don’t diminish your return on investment due to financial missteps.
For many parents, it can be counterintuitive to think about saving for their children’s academic future while they’re fulfilling their own financial goals and obligations.
Think of 529 plans as pre-paying for college: Put money into the 529 plan each month, then withdraw funds when you need to pay for college expenses.