Save for College

7 Types of College Savings Accounts

The idea of saving for college can be overwhelming. This is because when many parents think about saving, they (mistakenly) believe they need to put aside enough money to pay for 100 percent of college. In reality, most families use a combination of savings, financial aid, scholarships, and student loans to pay for college.

Beyond deciding how much you can afford to save each month, you also need to figure out where to save your money.

What Does 529 Eligible Educational Institution Mean?

A confused parent weighing her options.

Picture this. Your student is getting ready to go off to college for the first time. For years, you have contributed to their education savings plan, helping to make their dream of higher education a reality. As you prepare to send in the first payment from your 529 account, you want to ensure that your student is attending an eligible institution so it counts as a qualified withdrawal.

You might be unsure what this is referring to,

What Does College Really Cost?

A woman at a computer shocked by the real cost of college.

Preparing to send a child off to college requires a good amount of financial preparation. Sure, you’ve accounted for the basics that everyone knows all too well. You’ve considered tuition, room and board, and textbooks. But what about the extra costs associated with a college education? Are you prepared for those?

There are several costs for college that are “hidden in plain sight.” If you are aware of them,