AgTalk Home
AgTalk Home
Search Forums | Classifieds (137) | Skins | Language
You are logged in as a guest. ( logon | register )

I have 15 years before the boy goes to higher education... ? on $$$$$
View previous thread :: View next thread
   Forums List -> Kitchen TableMessage format
 
Geargrinder
Posted 12/11/2014 14:21 (#4233811 - in reply to #4227820)
Subject: RE: I have 15 years before the boy goes to higher education... ? on $$$$$


MN
We used the MNSaves 529 plan for our kids. You can put in as little as $25 per month if you want by automatic deposit. We're now withdrawing money for education and the return has been very good. We used the band mutual fund (changes to more and more bond funds as the kids get older). The only thing is when the money comes out it counts against the tax credit $$ - so if want full tax credit have to make sure pays at least $4000 in college expenses to get full benefit. 529 plans count as parent assets so I think 5% is counted on FAFSA. My kids didn't really get any loans or grants, but with their 529 plans and earnings, they will turn out pretty well with very little student loan debt (helps build credit rating - oldest was able to buy a house based on paying on student loans at the age of 21). I recommend starting now as college is very expensive (and use the college credit options in high school if it's still around in 15 years). We now coming into a couple years where we have two in college - one in 4 year college and one going to tech school.

Edited by Geargrinder 12/11/2014 14:24
Top of the page Bottom of the page


Jump to forum :
Search this forum
Printer friendly version
E-mail a link to this thread

(Delete cookies)