Financial Focus How Can You Help Your Kids Pay For College: college, such as a 529 education It's still summer, but we're getting close to a new school year. One day, vings plan. All withdrawalsrom contributions each year, ratherthan aid or scholarship funds. It can though, "back-to-school" will mean 529 plans are free from federal income come up with big lump sums later on. certainly take some digging to off to college" for your children. Will axes as long as the beneficiary you've A 529 plan is not the only you be financially prepared to help find these funding sources, but the effort can be worthwhile named uses the mone college, trade school or graduate y for qualified education savings tool you can use but it has proven effective for many Heres another option for reducing people. Yet you may also want to coege costs: Consider sending your costs of higher education? Your first step, of course, is to know what you're up against here are some numbers: For the 2017-18 academic year, college for expenses other than qualified education expenditures may subject to federal, state and penalty consider ways to keep college costs d to a local community college for n in the lirst place. For one thing, your children may be two years to get many of the "general requirements out of the way before xes on the earnings portion of your eligible for various forms of finandc ia asferring to a four-year school costs (tuition, fees, room and board) pl. (However, tax issues for 529 were, on average, nearly $21,000 for savings plans can be complex, so your family's income, but others, in-state students at four-year, public please consult your tax advisor before such as merit-based scholarships, are and many of them offer high quality schools and nearly $47,000 for students attending private colleges or You can generally invest in the 529 to universities, according to the College Board. And you can probably expect but if you invest in your own states explore some opportunities on your n their children's future. And by even bigger price tags in the years plan, you may be able to claim a tax own. For example, many local and king the appropriate steps, you can Some types of aid depend on for a bachelors degree. Community colleges are typically quite affordable investing.) open to everyone. But you dont have programs. ntil you get an offer from a A college degree is costly, but many people feel it's still a great investment school's financial aid office -you can saVin deduction or receive a tax credit. By starting your 529 plan early when your children are just a few years old, the investments within the plan have more time for potential help launch that investment This article was written by Edward Jones Financial Advisor national civic and religious groups help prepare for these costs you might want to consider putting your money in a vehicle specifically designed to help build assets for offer scholarships to promising young people, and your own employer may even provide some types of grants or assistance. Plus, your state also may Edward Jones for use by your local Edward Jones Edward Jones Edward Jones Edward Jones Edward Jones Edward Jones Edward Jones Edward Jones ean P. Asiala AAMS Michael C. Caley AAMSPam Covington AAMS Quinn Nofziger Tod Heisler AAMS Gwen Ruppert 7030 Pointe Imvenness Way 931 Chestrut Hills Paiway Fort Wayne, IN 46814 14 S. Scom R Fort WayIN 48814 4413 nos Rd Se E Fort Weyne. IN 46814 Fort Wayne, I 4680 444-3134 Fort Wayne, IN 46809 747-5411 Fort Wayne, I480 Fort Wayh, IN 46800 432-0304 478-8038 432-3613 Sense of InvestingMaking Sense of lnvesting Making Sense of Investing iMaking Sense of InvestingMaking Sense of Invessing Making Sense of lavestingMaking Ses f nesting Making of