Tag: college expense

How to use a 529 plan to pay for college?
Budget

How to use a 529 plan to pay for college?

The cost of college tuition fee has been steadily increasing since the year 2010. Be it K-12 or graduation, the cost of education is so high that it can weigh you down and put you in serious debt. But, that does not mean you cannot provide proper education to your kids. Applying for various government programs designed to help you save and pay for your kid's education will put you in a better financial position than others who continue to ignore such benefits. A 529 is a savings plan designed to help you pay for your kid's education. Commonly used by parents for their children’s education, this plan can also be used for your spouse or yourself. As a plan holder, you will be in total control of the account and can decide what to do with the money. The beneficiary cannot withdraw or...