529 Savings Benefits

Topics: Education, Higher education, Private school, Independent school, School, College / Pages: 9 (2116 words) / Published: May 3rd, 2016
In the world today, a college education has practically become a necessity. For many years it was an optional path that people could choose whether they wanted to continue their education or not. Today on the other hand, it has become very tough to grasp a good career and have a decent paying job without a college education. Many people go into the path of education and stack up an enormous debt that they end up spending most of their entire life paying off. For others, the admissions prices of a college education is enough to make them turn down the offer. The price of college education has been a major issue for people that can’t afford to take the debt and even for politicians who wish to approach this issue and get better prices or even …show more content…
A 529 savings plan is a plan in which the student invests some money that they have in order to gain more in the future with those investments (Hopkins, 2011). The negative is that if someone was to invest and start a 529 plan, they would have to start early. Infact it wouldn’t even be the student. It would have to be the student's parents while he or se is still young. If the parents start investing while their child is young they have a decade to be able to recover any investments that could have been potentially lost during the years. The 529 savings plan method wouldn't really work for someone that is trying to find a fast way to get money to pay for their college education. The best way for those students to get some fast last minute cash on hand is to explore last minute opportunities. It is important to look for scholarships and grants that the student could apply for. Many people think that once they have already been accepted to a university then their search for scholarships has ended (Hopkins, 2011). It is actually never too late to look for scholarships. Even if someone is about to start their first year of college and they don’t have any scholarships, they can still look for some scholarships even while they are taking classes. The scholarships they find can cover future classes and lower their tuition for the next semester or year. If a student considers the different ways of paying for college, it isn’t that hard for them if they didn’t take advantage of opportunities while they were

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