How to save for your kids’ college education
College education is getting more and more expensive. How can you save enough money for children’s college education? There are many ways to do that. In this article, we will talk about one way to do it: using a 529 plan. Summary How much will college cost when you kids go to college What is the 529 plan? Benefits of the 529 plan The contribution limit How to use 529 to fund for your kids’ college Other ways to afford college How much will college cost when you kids go to college For every saving plan, we should have an end goal. So the first thing we will do is to figure out how much the college is going to cost by the time your kids are going there. Vanguard provides this free College cost projector . You can enter the following info, then calculate the projected college cost: Years until college Years in college Rate of annual cost increase Current annual college cost For the current annual cost, by clicking the “look up cost” button, you can then enter the state, then either choose