Prepare to Pay College Bills With 529 Savings Plan - Kiplinger
Grandparents can pay the college directly to avoid gift tax implications, though the funds cannot be given to the student first. 3. Maximize Financial Aid Financial aid can significantly lower out-of-pocket costs:
Withdrawals are tax-free when used for qualified education expenses. If a bill is approaching, experts recommend shifting these funds into more conservative investments to protect against market drops.
Before the first bill arrives, consider these methods to reduce the immediate burden:
Health insurance, renters insurance for tech (laptops/phones), and security items like laptop locks. 2. Strategic Payment & Saving Options
Technology fees, lab fees, and graduation costs.
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