As college costs continue to rise, parents continue to search for ways to lower the pain in their wallets from getting a college degree. What could be better than having the money saved to pay for college? How about having help from Uncle Sam? But with so many choices, how can you most effectively accomplish the twin goals of paying for college and saving your retirement nest egg? I discuss ... Read More
QTP
Using Qualified Tuition Plans to Pay for College
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
