DIRS.INFO top alerts submit data jurnalism about API
login
Top related persons:
Chris Lynch - 1 Marshall Nelson - 1 Lynch - 1 they're - 1
Top related locs:
Top related orgs:
College Savings Plans Network - 1 TIAA - 1 Crewe Advisors - 1

Search resuls for: "College Savings Plans Network"


4 mentions found


☆ The biggest downside to 529 plans is about to go away. Now they’re a ‘no-brainer,’ expert says
  + stars: | 2023-09-15 | by ( Jessica Dickler | ) www.cnbc.com   time to read: +2 min
watch nowThe benefits of a 529 planThese plans have been steadily gaining steam for a number of reasons. A few states also offer additional benefits, such as scholarships or matching grants, to their residents if they invest in their home state's 529 plan. And yet, total investments in 529s fell to $411 billion in 2022, down nearly 15% from $480 billion the year before, according to data from College Savings Plans Network, a network of state-administered college savings programs. Regular contributions to a 529 college savings plan took a back seat to paying more pressing bills or daily expenses. If your student wins a scholarship, you can typically withdraw up to the amount of the scholarship penalty-free.
Persons: Chris Lynch, Marshall Nelson, Lynch, they're Organizations: College Savings Plans Network, TIAA, Crewe Advisors
☆ What is a 529 plan? How you can score a tax break while saving for future college expenses
  + stars: | 2023-05-29 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com   time to read: +7 min
And what better time to think about a college savings account than 529 College Savings Day? Unlike college costs, however, your 529 plan funds can only go toward tuition for primary and high school. On top of tax-free growth, some states allow taxpayers to deduct or get a credit for 529 plan contributions on their taxes. Drawbacks of 529 savings plansOne of the main drawbacks of saving in a 529 plan is that you owe a penalty if you use the funds for an ineligible expense. The Free Application for Federal Student Aid (FAFSA) does take 529 plan savings into account when determining your expected family contribution (EFC), but not at face value.
☆ How Much of My Paycheck Should I Save?
  + stars: | 2022-12-28 | by ( ) www.wsj.com   time to read: +12 min
By Tanza LoudenbackIf you’re wondering how much of your paycheck to save but don’t have any concrete goals in mind, there may be a better strategy. Where to save for retirementYou should count yourself lucky if you work for a company that offers a retirement plan to employees. How much to save for other goalsSavings targets for nonretirement goals also depend on your timeline and where you save the money. You should keep the cash somewhere easily accessible that carries no risk, such as a savings account, money-market account, or CD. Once you know your target down payment, it’s easy to figure out how much you need to save from each paycheck.
☆ This 529 savings plan myth is making college pricier for families, consultant says: 'It's candidly, blatantly not true'
  + stars: | 2022-12-14 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +1 min
SEATTLE — For many families, paying for college is a financial burden, and experts say education-funding myths may be adding to the student loan debt crisis. "There's often this perception that somehow people are being penalized for saving for college," said Cozy Wittman, national education and partnerships speaker with College Inside Track. Parent-owned 529 college savings plans are assessed at 5.64% when filing the Free Application for Federal Student Aid, known as the FAFSA, she said, speaking at the Financial Planning Association's annual conference on Tuesday. That means for every $10,000 of 529 plan savings, roughly $564 counts toward the parents' expected family contribution, potentially reducing financial aid by roughly the same amount, according to the College Savings Plans Network. The average 529 account value was $30,287 in 2021, the College Savings Plans Network reported.
0 next >>
Total: 4