How to Save for College - MWBoone Video Library

Quality Independent, Unbiased, Financial Advice and Wealth Management

-Employee Owned Since 1985

 
 
 
 

How to Save for College


Mwboone & Associates (Bellevue, WA), Certified Financial Planners, Wealth and Investment Management
(Click to play)


College costs money, and lots of it. Many schools cost over $50,000 a year! The best way to pay for college is to know all your funding options.

No matter how old your kids are, start saving now. Over time, even modest savings can pack a punch. Investing as little as $200 a month for 18 years could yield $100,000. Talk with financial professionals to understand college funding strategies.


Here are some ideas you should know about:

A 529 is an education savings plan that offers you attractive tax advantages. Your investments grow tax-deferred, and withdrawals are tax-free when used to pay for college expenses.

Financial aid – always fill out the Free Application for Student Federal Aid (FAFSA) form. Even if you don’t think you’ll qualify, you may be presently surprised. There are government-backed, low-interest loan programs that many parents use to defer tuition costs.

National grants – options include Pell Grants, Academic Competitiveness Grants, and National SMART Grants. Your child’s guidance counselor can help you find others.

Increase your odds – make sure your child applies to several schools. The more places they’re accepted, the better chance you’ll have of receiving financial aid.

Service in exchange for tuition - AmeriCorps, Peace Corps, National Health Services Corps, and ROTC programs offer college money in exchange for a service commitment after graduation.

Live at home – don’t rule out starting at a low-cost community college, then transferring to a four-year college for the final two years. This way, you can save money on tuition and room-and-board.

College education is expensive, but it’s one of the best investments you can make in your child’s future success. College graduates earn 84% more in their lifetimes than those who don’t go to college. Start saving now, so you can put your children on the right road to success.



Other Videos You Might Be Interested In



How to Save for Retirement


What We Do


How to Choose a Financial Advisor















Social Media

 

The MWBoone Blog

September 27th, 2016 - Five Forecasters: Few Warning Signs

September 1st, 2016 - Corporate Beige Book

June 24th, 2016 - Overcoming a Wall of Worries





MWBoone on Facebook






MWBoone on Twitter



MWBoone on YouTube