College Savings Plans have a number of nuances such as whether or not you receive a tax deduction, which schools are eligible, how financial aid will be impacted, which expenses are eligible, etc… In today’s blog post you will learn about these and other topics so that you can make informed college planning decisions.
Saving for your children’s education can seem like a daunting task. While there are many factors to consider, in today’s blog post you will learn about 3 tips to help you better understand the education savings landscape.
Did you know that using an IRA to pay for college is allowed and is exempt from the 10% early withdrawal penalty? But the real question is whether or not you should use the IRA in the first place.
Perhaps you didn’t initially save for your children’s college education, but now you’re at a point in life where you want to cover some or all of the cost. Or perhaps you’re at that stage in life where you desire to make a career change and go back to college. Regardless of the situation, the IRA is a tool that you can use to pay for college expenses. In today’s blog post, I will discuss the rules as well as the advantages and disadvantages of using an IRA to fund college costs. In addition, I will go over alternatives strategies that you can use.