X hits on this document

876 views

0 shares

0 downloads

0 comments

178 / 367

164

CHAPTER 9

Public School

17%

4%

23%

Tuition

1%

Fees Room Board Books

55%

Private School

11%

12%

1%

2%

Tuition

Fees Room Board Books

74%

Figure 9.1. Using the amounts from Chapter 8 ($9229 for public schools), these are the percentages for each expense category. Note the difference between tuition for a public school and tuition for a private university (55 percent and 74 percent, respectively). Source: http://www.ed.gov.

more freely. The education IRA can also be used for elementary and secondary education costs, while the 529 may only be used for col- lege. Don’t forget to include savings bonds in your investment choices. Although not typically suited for large education costs, such as tuition, they would work very well for smaller charges, like books.

Plus, there is possible financial aid to consider. If you think your child would be able to qualify for financial aid, it may be best to invest your money in an account under your name, rather than the child’s. When considering if a student is eligible for aid, colleges employ a formula to see how much aid the student may receive. Most

Document info
Document views876
Page views876
Page last viewedThu Dec 08 00:47:49 UTC 2016
Pages367
Paragraphs4568
Words116968

Comments