According to a study published by Fidelity Investments, more than 70 percent of parents are putting away money to fund their kids college education. Despite that, almost the same percentage of students will graduate college carrying an average of $28,000 in student loan debt. Clearly, there is a gap that needs to be filled. Below, we present some strategies that can assist parents in helping their children graduate college without carrying a massive burden of student loan debt.
Maximize Your 529
Parents can choose from two types of 529 college savings plans, including prepaid plans and savings plans. Prepaid plans are designed based on the cost of attendance at in-state public colleges, while savings plans are typically managed by a fi…
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