Military Finances 101: 529 vs. Other Educational Savings Programs
The GI Bill may cover college expenses for you child. But what if it doesn't? Planning ahead and using an education savings program, could set you up for success.
The GI Bill may cover college expenses for you child. But what if it doesn't? Planning ahead and using an education savings program, could set you up for success.
If Savings Bonds are used to pay for college expenses, the interest on them could be tax free. But as you progress through the ranks of the military or if you retire from the military and start a second career, you might earn your way out of the benefit.
The GI Bill might pay for a lot of your kids' college. But it might not pay for everything. Here are a few ways your rich Uncle might help you out.
You or your kids may have some student loans (hey, GI Bill might not be able to pay for everything). If you do, then you should probably learn about the recently announced student loan forgiveness.
Student loan debt may be relatively rare amongst children of active and retired Senior Military Officers and NCOs due to available VA and other benefits. That doesn't mean your child won't end up with student loan debt. Should you help pay it off? Here are some things to consider.
So "Junior" is heading off to college next fall. Have you taken a hard look at spending with him? Here are some pointers to start the conversation.
How can you cover your child’s college costs? The GI Bill may help, but it might not cover everything. Here are some college savings vehicles to consider.
You've figured out the GI Bill and your kid is headed off to college, have you gone over the "what if" scenarios with them? In case of emergency, you and your college student will want to have this paperwork filled out ahead.
Active and Retired Senior Military Officers and NCOs are, perhaps, more likely to have leftover funds in a 529 Plan than other Americans. That's because they have access to several educational assistance benefits through the VA or other entities.
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