How You Can Save 70% on Your Child’s College Education

In Child Education | on February, 15, 2015 | by | 0 Comments

News from Motley Fool:

If you follow the news at all, you probably know that a college education has become considerably more expensive over the past few decades. This trend shows no sign of slowing anytime soon, meaning parents might be dreading paying the bill for sending their children to college.

Fortunately, there are strategies you can use to make college more affordable, including tax-advantaged savings plans such as a 529. While you might have heard of a 529, you could be surprised at just how much of a difference it can make.

What is a 529 plan?
A 529 savings plan is an investment account that is similar to a 401(k) in its investment options, and is similar to a Roth IRA in its tax structure.

Like a 401(k), a 529 plan allows you to choose from a basket of investment funds, investing in various types of stocks and bonds. And like a Roth IRA, contributions are not tax deductible, but any withdrawals used to pay for qualified higher-education expenses are not taxed.

529 savings plans are run by the states, and while you don’t necessarily need to choose the plan administered by your home state, there could be additional state tax adv……………. continues on Motley Fool

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News from Washington Times:

President Obama on Saturday came out swinging against Republicans’ education reform plan, arguing the proposal will reduce the quality of American schools and leave many low-income children stuck in failing classrooms.

Other top administration officials, such as Education Secretary Arne Duncan, already have blasted the proposal, which passed the House Education Committee earlier this week. But Saturday marked the first time the president weighed in on the legislation, and while he didn’t issue a formal veto threat, he made clear he vehemently opposes the bill.

“It’s pretty commonsense that an education bill should actually improve education. But as we speak, there’s a Republican bill in Congress that would frankly do the opposite,” Mr. Obama said in his weekly address. “At a time when we have to give every child, everywhere, a fair shot, this Congress would actually allow states to make even deeper cuts into school districts that need the most support, send even more money to some of the wealthiest schoo……………. continues on Washington Times

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