Paying For College-Important Decisions Ahead

While students are following an ever evolving curriculum from grade school, middle school and high school in preparation for the next level in their education, many parents are recognizing that they are ill-prepared for the financial commitment that most higher education pursuits will require.

Even if you began saving at the birth of a child, you may find that many of the pre-paid tuition plans have fallen short of their financial promises and unfortunately some have even ceased to exist. 529 plans which offer tax free withdrawals for education costs have suffered the fate and turmoil of the investment markets and as a result often have little more available than the value of their contributions.

The timing of college does not seem to come at a convenient time for us either. The expense of college typically occurs just a few short years before we have to begin facing the end of our working career and the uncertainty in today’s world of retirement.