CASH Expo May 15, 20091 Saving For College Jerry L. Basford, Ph.D.

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Presentation transcript:

CASH Expo May 15, Saving For College Jerry L. Basford, Ph.D.

CASH Expo May 15, Go to “Resources.” At the bottom of the page click on CASH expo May 15, 2009-Saving for College

CASH Expo May 15, Top 10 Things To Know About Saving for College 1.Saving for your own retirement is more important than saving for college. 2.The sooner you get started the better. 3.Stocks are an excellent way to save for college (in the early years). 4.You don’t have to save the entire cost of four years of college. 5.Saving with mutual funds is simple savings plans are a good way to save for college and they offer great tax breaks. 7.Tax breaks are almost as good as grants. 8.The approval process for college loans is more lenient than for other loans. 9.Lenders can be flexible when it’s time to pay. 10.Many taxpayers with student loans get a tax break.

CASH Expo May 15, Top Strategies to Maximize Aid Eligibility Save money in the parent’s name, not the child’s name. Spend down student assets and income first. Pay off consumer debt, such as credit cards and car loans. Maximize contributions to your retirement fund. Accelerate necessary expenses, to reduce available cash.

CASH Expo May 15, Payback Time Pay regular and on time. Ask about alternate forms of payment. Take advantage of tax breaks. Consolidate your loans. Seek deferments or forbearance, if you need to.