Building a college savings plan
HOUSTON -- It's never too late to start working on a college savings plan
College expenses have climbed 5 to 8 percent per year. Despite the rising costs, around 80 percent of parents agree that college is an important investment. Yet half aren't saving.
Here are a few tips for saving for college.
- It's never too soon or too late to start saving.
- Maximize the investment. Choose a higher risk portfolio when children are young; switch to a more conservative investment as they near college age
- 529 savings plans can offer tax breaks
- Have contributions automatically deducted from your paycheck
- If you get a raise, increase amount of contribution
- If you get a tax return or inheritance, save a percentage to fund
- Review your savings plan annually
That's information worth knowing.
Paid Sponsor Cadence Bank N.A. Member FDIC
- One killed in house fire on Houston's south side 57 min ago
- Would-be robbery victim kills suspect at bar
- Malaysia jet may have turned back
- Blood drive held for officer injured in crash
- Woman badly burned in Conroe apartment fire
- Ford Motor Co. leader William Clay Ford dies
- Photos: South by Southwest in Austin
- Gun hidden in sock kills woman in freak accident
- LA unanimously bans vaping in public places 10 min ago
- DUI suspect crashes into 'We Be Sober' drivers 8 min ago
- Man dancing on power pole in lifted to... 13 min ago
- Boy buried by avalanche tried to bite his way out
- New info in case of women found dead by dumpster
- Trooper's wife killed when his gun accidentally discharged