Saving for your child’s college education can be a lot less stressful if you make a plan, stick to it and make sure it provides you with the best tax benefits available. Section 529 plans can, for some families, be a great vehicle to save for your child’s college education. Its name comes from Section 529 of the Internal Revenue Code. There are lots of plans available and most states offer a 529 plan that grants tax benefits to citizens of that state.
Below are links to useful websites to help you develop a plan to pay for your child’s college education. Do your homework before selecting a plan. The links below are just a starting point in your decision-making process. The information on this website is not intended as professional advice and you should consult a tax professional before selecting a plan for your family.
Helpful websites
Department of Education (www.ed.gov/index.jsp)
Saving for College (www.Savingsforcollege.com)
FinAid (www.Finaid.org)
National Center for Education Statistics (www.nces.ed.gov/ipeds/cool/search.asp)
National Institute of Certified College Planners (www.niccp.com)
College Savings Plans Network (www.collegesavings.org )
Upromise (www.upromise.com)
Suggested books
Paying for College Without Going Broke by Kalman A. Chany and Geoff Martz
Peterson’s College Money Handbook
The Best Way to Save for College: A Complete Guide to 529 Plans, by Joseph F. Hurley
Guide to Understanding 529 Plans by Virgina B. Morris, et al.
The 529 College Savings Plan: The Smart Way to Fund Higher Education by Richard A. Feigenbaum and David J. Morton
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