More than 15,000 children are diagnosed with cancer each year. An even greater number of parents of college-age children die of cancer. Cancer is a source of stress on a family, both financial and non-financial. Cancer drains family resources that otherwise could help send their children to college. Cancer scholarships can help alleviate some of that stress.Read More
Check out the Hot Topics we have covered recently.
Children’s Savings Accounts (CSAs) and 529 college savings plans both help families save for a child’s college education. While any amount of college savings is better than none, there are several key differences between these two types of college savings accounts. These differences affect how the account is opened, how funds grow and how the money may be spent when college bills are due.Read more
Philanthropist Michael R. Bloomberg, 76, is giving $1.8 billion to his alma mater, Johns Hopkins University, to support need-blind admissions and a no-loans financial aid policy. This is the largest gift ever made to a college or university.Read more
You cannot use a 529 plan to pay for travel and transportation costs. The earnings portion of a distribution from a 529 that is used to pay for travel and transportation expenses will be considered a non-qualified distribution. Non-qualified distributions are taxable at the beneficiary’s rate, plus a 10% tax penalty, as well as recapture of state income tax benefits attributable to the distribution.Read more
A 529 college savings plan can be a very effective way for grandparents to build a college fund for their grandchildren. However, there are a few questions grandparents must ask themselves before opening a 529 account.Read more
Looking for more info on any of these topics?
Q&A with 529 Guru: Joe Hurley
Specialist Joe Hurley answers your questions.
Search content from prior years.