October 9, 2010 by Post Team
For example, the average tuition and fees amounting private four-year college and 26,273, according to the College Board website. And while cheaper, even public schools can cost an average of 7020 and for students statewide.
Given the high cost of education, especially in the face of tough economic times, many consumers the option of trying to start putting money in savings accounts early. September was College Savings month, and a number of groups is characterized by encouraging families to be prepared for school expenses.
treasurers of Governors and the state joined the College Savings Plan Network, an advocate of the 529 college savings plans. These programs are offered statewide and give consumers a way to save money for education of the child.
The advantage of this type of plan is that money saved grows without the beat of federal income taxes or state. Moreover, the outputs for education are not subject to federal income taxes.
“529 college savings plans offer a convenient, tax-advantaged planning and saving for college, and all offered by the state for at least a 529 plan, most families can find a plan to help meet their needs and goals, “said Joan Marshall, President and CEO CSPN College Savings Plans of Maryland.
While putting money in this type of savings account can help families in the future, some still may have difficulty paying for college. There are, however, other strategies they can employ to try to reduce costs.
For example, selecting a public school in the state should provide lower tuition and fees. Some students even the option of going to a smaller school for two years and then transfer to a four-year university.
In addition, a variety of scholarships are available for all types of students, many of which are based on need or achievement. There are also federal loans, but they can also lead to debt.
However, people who choose to enter a career in public service can have their debts forgiven in time. The government can base wage payment requirements of a graduate as well.
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