Monday, October 22, 2012

Avoiding college debt

College debt can add up quickly, as explained in CNNMoney's recent article, "The other reason grads are drowning in debt" by Jon Marcus.

The best way to avoid college debt? Plan in advance. There are several different ways to save for college, some of which include 529 plans, Uniform Transfer to Minor (UTMA) accounts, education savings accounts, and others. Check into all of your options, and also see which plans offer tax advantages. Talking to a professional could be extremely beneficial to make sure you receive all the benefits available.

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