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Saving For College

Ruben Said:

Should I start saving for college?

We Answered:

Save it, and if you need it for college that's a good reason to spend.

It's definitely worth it. You'll change your mind about the majority of the stuff you buy now, but college is something very few people regret.

Amanda Said:

How can I thank Boise State's kicker for saving college football?

We Answered:

he didn't save college football. he just choked.
nevada is a good team and WAC is more competitive than you think. boise and nevada could probably beat all the schools in big east and ACC.
it would be nice to break the big conferences monopoly. go TCU

Alma Said:

Is a 529 good for saving for college?

We Answered:

Generally it's a good idea, and the younger you start the better. What the plan does is lets you buy a credit hour of college for the current price of a credit hour of college. Just be sure to read into what happens to your money if you don't go to college, or go to a college in a state other than the one you buy the credit hours from.

But it's typically better than a savings account, because the cost of college goes up faster than the amount you'd gain in interest.

Here is a federal webpage with more info: http://www.finaid.org/savings/529plans.p…

Ross Said:

What is the best way to start saving money for college for my infant child?

We Answered:

You should consider a 529 account. This will allow you to set aside money for your childs education and any gains/earnings are tax free and when you withdraw the money for your childs education later in life it is also tax free. The good thing about these is that it is in your name and your direct the money. Some plans are in the childs name and they have access to it when they are of age. We have our daughters with T. Rowe Price. I put a couple of links below for your reference. Good luck.

Anna Said:

How much money should I be saving for college?

We Answered:

well it depends on the school if your parents make under 75k a year combined and have no lucrative assests then you can file fafsa. after doing this they will determine whether or not you qualify for fin aid. at the end of your fafsa app it will give you a number the EFC. which is the expected family contribution. if its anything other then 0. that is the number your family will be respoinsible for paying. so lets say your EFC was 3000 and you were going to a school on semesters and tuition was 7000 per semester. you would have to pay 1500 out of pocket for fall semester and then another 1500 for spring. you need to see how much the cost of attendence is for the schools you want. i would recommend public ones. and 9k is alot to have saved, keep saving.

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