Continued from - Save for College – part 1:
Saving with Coverdell Education Savings Accounts.
You can contribute up to $2,000 in 2012 to a Coverdell Education Savings account (a Section 530 program formerly known as an Education IRA) for a child under 18. These contributions are not tax deductible, but grow tax-free until withdraw [...]
According to the US Census Bureau, individuals with a bachelor’s degree have the potential to earn more than double the salary of those with just a high school diploma, so even though tuition and fees are on the rise, most people feel that a college education is well worth the investment. That said, the need to set money aside for [...]
What is a 529 plan? 529 plans are investment vehicles designed to help families pay for future expenses associated with college or other qualified post-secondary training. Though contributions to a 529 plan are not deductible, these plans offer other tax advantages. All 50 states and the District of Columbia sponsor at least one type of [...]