| Title | : | College Debt: The Best Ways To Pay For College | Burning Money Questions | Money |
| Lasting | : | 6.18 |
| Date of publication | : | |
| Views | : | 1,7 rb |
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To the question: "How much should I save in a 529 plan?"brbrWhile strictly on a financial/economic basis, 529's are good savings instruments, they can fail miserablybrbrin the Financial Assistance process, some schools (a top public university in our state is an example) will simply "take" all of that money and ask for more They penalize good saversbrbrAn alternative to consider: the Roth IRA (assuming you already have strong retirement funding addressed) The principal in a Roth IRA can be withdrawn after 5 years without penalty And in the Financial Assistance process, most schools are hands off on Retirement Funds if that funding is not excessivebrbrLesson: know the Financial Assistance process for the schools you might consider - not an easy thing to discern for the above example since they might be evasive Comment from : @M22Research |
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