College
Wed, 2010-01-06 12:55 | 
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It Pays To Stay in School
According to the Bureau of Labor Statistics, a person with a Bachelor's Degree will earn $23,000 more a year than a person with a High School diploma. Over a 25 year work period that's more than half-a-million dollars! Here is the complete table:
The College Cost Environment
Paying for college is not a one-shot, one-year affair. Parents and grandparents will have to think in terms of four years for a baccalaureate, six years or longer for a graduate or professional degree, and an eternity if they have seven bright students spaced two or three years apart. Since you may be paying college bills for many years to come, it is essential to understand a bit more about the overall college cost environment. Tuition costs continue to...
Introduction To The Coverdell Education Savings Account
The Coverdell education savings account is a way to save money for a child's qualifying education expenses. It falls under the same section of the tax code as does the individual retirement account, so it shares the misnomer "IRA." Because it falls under rules similar to those of IRAs, the account has tax-savings benefits to encourage persons to save for education expenses. Coverdell education savings accounts use...
Financial Aid: Determining The Expected Family Contribution
Expected family contribution (EFC) is the amount of money a family should contribute toward education costs. Understanding how EFC is calculated is the key to your financial aid strategy. There are currently two methods of calculating EFC: the method prescribed by Congress, called the federal methodology, and the institutional methodology. While both methods are similar, the institutional methodology includes certain...
Financial Aid Myths And Misconceptions
Many families fail to get all the financial aid for which they are eligible simply because of myths and misconceptions about financial aid. These lead a family to believe that they do not qualify for financial aid, or send them searching for some arcane scholarship. As a result, they spend time chasing myths rather than focusing on the main sources of financial aid: Uncle Sam, their home state, their college, and their employer. Misconception: "I don't qualify for financial aid because...
Education Planning: Getting Started
Photo of a Parent Helping His Child Ride a Tricycle Many people put off planning for their children's educations until the kids are well into their teens. Often, they discover they've waited too long. With a late start, they have little time to accumulate the assets they need, and miss the chance to plan opportunities to maximize available financial aid. Ideally, the best time to begin planning for...
Coverdell Education Savings Accounts
The Coverdell education savings account (formerly the education IRA) is a tax-advantaged savings plan for post-secondary education. It is modeled on the standard IRA to give tax incentives to persons for saving for education. Anyone may fund a Coverdell ESA for a single student (beneficiary); however, no more than $2,000 a year may be invested per...
Coverdell Education Savings Account Rollovers
Rollovers may take place without tax consequences in four ways: