Editor's Note
After writing the article about Volkswagen offering a college
savings incentive with purchases of its new minivan, I couldn't
help but indulge in a nostalgia trip to my college days where
Volkswagen bugs lined the streets of my college town and you
could always hitch a ride from a passing peace-sign-covered VW
bus. Such memories have been fueled by the upcoming election
and my own college student children who are becoming more
interested in politics and who have a burning desire to change
the world. As a new generation moves into the limelight, it's
somehow reassuring to know that VW is still there, making its
mark in the college community.
Best regards,
Gail Perry, CPA
Managing Editor
editor@accountingweb.com
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Saving for college with 529 plans
A 529 plan is a special kind of investment account designed for
college saving. Money grows in the account tax-deferred, and
the earnings become tax-free if withdrawn and used for college
expenditures. Here's how the accounts work.
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Morningstar ranks the best and worst 529 plans this year
Morningstar, the global investment research firm has published
its annual list of the best and worst 529 plans - when it comes
to earning long-term returns for college savers - and the
overall opinion smacks of optimism. Some of the worst plans
from years past have folded up and gone away, while others
continually strive to improve.
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529 College Savings Plans remain a mystery to most parents
Parents are counting on credit to counterbalance skyrocketing
college costs, according to The State of College Savings, a
survey to assess the state of college savings conducted by the
College Savings Foundation. Fifty-four percent have saved less
than $5,000 toward their goal and almost 40 percent expect to
take at least 10 years to dig out of the daunting debt expected
to send their children to college.
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Twelve tips for funding that college education
Benjamin Franklin said the only two things that are certain are
death and taxes. It's a safe bet that you can add "college
costs will continue to rise" to that list. Parents who are
looking down the road at college costs for their children may
be overwhelmed. How can you afford $15,000 to $40,000 per year
for four years when you're struggling to make the mortgage
payment each month? And that's just the cost of one child -
what if you have two or more?
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Volkswagen lures customers with college savings option
Hello 60s? Volkswagen is calling. The renowned manufacturer of
the hippie vehicle of choice, the Volkswagen bus, is once again
trying to lure the college audience, or at least the parents of
college students, many of whom probably drove a bus in the 60s,
by issuing a new minivan with an added incentive - $1,500 that
can be moved directly into a 529 college savings account.
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Parents of college students unaware of many financing options
The parents of this fall's college-bound freshmen may be
breathing a collective sigh of relief that their children have
cleared the admissions hurdle. But few parents understand the
terms necessary to make fully informed financial aid decisions,
says a new survey conducted by leading global strategic
branding firm Siegel+Gale.
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