Saturday, August 19, 2006

MONEY Magazine: Chatzky: Who's afraid of paying for college? - May. 23, 2006

A recent article by Money magazine editor Jean Chatzky revealed that parents were more concerned about the high cost of college than they were about violence in video games, the environment and terrorism.

The article covers some of the topics funding sources discussed in Everybody Else's Guide To Getting Into College, but targets its advice to parents.

Chatzky advises parents to plan and pay for college by:
  • Join college rebate and reward programs and deposit into a tax-deferred savings account
  • Apply "aggressively" to financial aid programs, contests, lenders, scholarships
  • Use money from their 401(k)
  • Set up a 529 college savings plan
  • Go to an in-state college instead of out-of-state or private colleges
  • Get the kids involved in saving for, and paying for, college

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