Archive | Education Planning

Back to School Bonus: Interest Rates Drop on Federal Student Loans

Families with students heading off to college this fall take note: The interest rates on all newly-issued federal loans have been reduced for the coming academic year — but those reductions are much more pronounced for student borrowers than for their parents.1 For instance, the interest rate on Stafford subsidized and unsubsidized loans for undergraduates […]

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Paying Off Student Loans

Actively managing your debt is an important step, and your student debt may be one of the biggest financial obligations you have. There are many strategies that could help you manage student loans efficiently. Here is a checklist. Choose a federal loan repayment plan that fits your circumstances: The Standard Repayment Plan requires a fixed […]

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Transferring Assets to a 529 Plan

By now most Americans who are saving and investing to pay for college costs have probably heard that so-called 529 college savings plans allow tax-free distributions for qualified education expenses, potentially making them even more attractive and effective than in the past, when they were only tax deferred. Add that tax benefit to other benefits […]

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Paying Off Student Loans

Actively managing your debt is an important step, and your student debt may be one of the biggest financial obligations you have. There are many strategies that could help you manage student loans efficiently. Here is a checklist. Choose a federal loan repayment plan that fits your circumstances: The Standard Repayment Plan requires a fixed […]

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Consider Prepaid Tuition Plans for College Savings

If you’re currently investing for your children’s college education or are planning to do so in the near future, you may want to consider a state-sponsored prepaid tuition plan. Generally speaking, these plans, which are now available in many states, allow you to pay tomorrow’s tuition bills at today’s tuition rates. In addition, they allow […]

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Coverdell, Custodial Account, or 529? How to Choose

To keep pace with the rising cost of higher education, Americans need to make the most of tax-advantaged accounts. But which ones? So-called 529 college savings plans feature generous lifetime contribution limits, and qualified withdrawals are tax free. In addition, there are generally no income restrictions that govern who is eligible to contribute. Also, contributors […]

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