August 1, 2008, Newsletter Issue #79: Pre-Paying For College

Tip of the Week

To keep up with the rising cost of a college education, many families are turning to prepaid tuition plans. This allows them to invest money now to cover the future cost of a higher education degree. Essentially, the plan allows a parent to lock in the future cost of the education years before a student is ready to attend. In many cases, state governments may manage these plans directly although many educational institutions may offer a plan directly. You may qualify for a tax benefit for you so check with your accountant regarding rules in your state.

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