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DIY: College Tuition Planning
With college tuition costs on the rise, it's more important than ever to start planning for your child's education. College tuition planning has always been a hot topic amongst parents. So how do you start planning for your child's education? As with any sort of financial planning it depends on when you start. If you're like some parents and have been socking money away since little Johnny was born, you're likely to be in good shape. If your child is a senior in high school and you're just now thinking about it, you're way behind the eight ball, but that doesn't mean Suzy won't be able to go to college.
Talk to a financial aid counselor to get some good college financial aid advice. Sound college financial aid advice is worth its weight in gold. There are billions of dollars out there that the government will give you to go to school. Financial aid also comes in the form of low-interest loans that don't have to be repaid until after graduation. Planning for your child’s education doesn’t have to be hard as long as you talk to the right people.
College tuition planning also entails looking into investment instruments that you can put your money into to be used toward college related expenses. 529 investment plans and pre-paid tuition plans are popular these days. Check with a financial planner as well as parents and school counselors to get information on college tuition planning and planning for your child’s education.
The information supplied in this article is not to be considered as medical advice and is for educational purposes only.
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