When you get into the world of college applications, the acronym “EFC” comes up constantly. Mostly you’ll hear parents bemoaning how high theirs is and why it’s unrealistic for them to pay. &nb...
Freaking Out Over The Lack Of Financial Aid?
I’ve been reading a lot of Facebook posts about the financial aid letter freakout. That was me three years ago — except we knew our EFC and what the colleges would likely award beca...
Do You Know the Best Way to use a 529?
Having money saved in a 529 for your child’s college expenses is a huge boon. However, it’s important to use the money the right way. Understanding EFC implications and what expenses qualify he...
How Grandparents Can Pay for College with 529 Plans
Many families save for college by putting money away in a state’s standard 529 Plan, a college education savings account exempted from federal taxes. But what many families may not understand fully is...
Learning From Someone Else’s College Savings Mistakes
PARENT STORY My husband Carl and I married late and had a child in our 40’s. During our son’s first year, Carl and I sat down with a broker and opened a run-of-the-mill custodial college account (ther...
The Ins and Outs of 529 Plans For College Savings
529 – the fund named for three little digits – is helping thousands of Americans save thousands of dollars to pay for college. However, which plan to choose and whose name in...