Investing in a 529 plan is a valuable college savings strategy; however, certain rules related to 529 account distributions are often overlooked. These nuances may not become apparent until after a distribution has occurred, potentially resulting in unexpected tax liabilities for the account … [Read more...]
529 Plan Distributions
Student Loan Repayment Delayed Again
...To Future Date in 2023 The Biden administration has announced another extension for repayment of federal student loans to an unspecified date in 2023 due to legal challenges that have blocked implementation of the student loan debt relief program. The previous payment moratorium was set to … [Read more...]
Student Loan Cancellation & Delayed Repayment
New Cancellation for Federal Student Loans and Delayed Repayment to 2023 On August 24, 2022, just a few days before federal student loan repayment was set to resume, President Biden announced a plan for additional student loan debt relief. Federal student loan repayment was originally halted in … [Read more...]
529 Plans vs. Other College Savings Options
529 plans can be a great way to save for college, but they're not the only way. When you're investing for a major goal like education, it makes sense to be familiar with all of your options. Mutual funds Mutual funds are an option to save for college costs. They offer unlimited investment control … [Read more...]
Saving for Retirement and a Child’s Education at the Same Time
You want to retire comfortably when the time comes. You also want to help your child go to college. So how do you juggle the two? The truth is, saving for your retirement and your child's education at the same time can be a challenge. But take heart — you may be able to reach both goals if you make … [Read more...]