Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
You should check your state's tax laws. Indiana gives you a 20% *credit* for putting up to $5K into a 529. By funding a 529 from the state-approved source, you can give yourself $1000 off your state income taxes. If NC does anything like that, the 529 is a big plus, even if you combine one with a Coverdell.

Apply for all possible scholarships. When one of my kids graduated, the local Coke bottling company gave $500 for four areas: Math, Arts and two others. They only awarded three that year because nobody even applied for the Arts one. I couldn't help but notice that several kids were going to such-and-such college to study Art or Music (which is one of the Fine Arts). My local alumni group offers a scholarship to our (out of state) school, which some years goes unclaimed because nobody applies despite the college matching (so our $600 turns into $1200 for the student). One year we awarded it to a B+ student with a ton of extracurricular activities, so you don't have to be a 4.0 class president and science fair winner to get money.
Print the post  

Announcements

Paying For School Guide
Trying to Tackle Tuition? The Motley Fool's Guide to Paying for School will help you fight those rising education costs.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.