Qualified Tuition Plans debuted in the mid-1980s as prepaid tuition plans. After Congress passed the Tax Reform Act of 1997 and clarified the tax treatment of plans, the rush was on to claim the hearts, minds and wallets of parents and grandparents as states sponsored plans with investment managers. For those who are unfamiliar with these options, let's review the basics: Prepaid Plans: These ... Read More
gifts
Improve Your Odds for Student Financial Aid
It’s never too early or even too late to start planning for ways to pay for college or post-graduate school. Myths There are a number of myths out there that can adversely impact your planning efforts: 1.) There’s not enough aid available; 2.) Only students with good grades get aid; 3.) My family makes too much money to qualify. Reality In reality, both “self-help” aid like loans and “gift” ... Read More
