Planning for the College Future and How to Get There:
Most parents dream that their child go to college but really don't have an idea how to achieve that goal. There are many strategies to meet that goal, having a goal before birth is the best approach. Out of all the strategies which one is good for your family.
Several options like the (Qualified College Saving Plan) 529 plan, in most every state in America has this plan. How this work is like building a saving account tax free toward the goal to liquidate before college and still never be taxed so long as the funds are used for education purpose. Sounds more like an annuity but they call 'it' a saving account. I guess you can be the judge when you see the fine print. But, this a popular option so when the child is ready for college the funds will be there, hopefully. Another option is the Education College Saving Bond Program that could be a strategy. Though certain rules as far as income that need to considered. Also, when you initially purchase the bond 15 years ago could possibly have higher value if purchased today. The Coverdale Education Saving Account: (ESA) is another consideration to meet you child college tuition plan. Although, some flexibility to saving (ESA) for college can also be used prior to the college. There are some limitation about the amount you can save each year. Then the income of the family has some limitations. Knowing the rules can be critical for the success of your student.