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10 Ways Parents Should Plan for College Financially
Around 40 percent of families say they have a plan for paying for college, a recent survey found.

By Farran Powell
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Oct. 26, 2016
 
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Parents Should Begin Planning Early
While 97 percent of families responded in a recent Sallie Mae survey that "they believe college is an investment in their student's future," less than half of parents surveyed say they have a plan to pay for college.

College experts say planning for college expenses in advance helps reduce stress – especially when it comes to external factors, such as hikes in student loan interest rates or tuition.

NEXT:1. Open a Tax-Advantaged 529 College Savings Account

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1. Open a Tax-Advantaged 529 College Savings Account
A 529 college savings account is a vehicle for families to save and invest for college with tax-deferred earnings and tax-free distributions on education expenses.

Wealth advisors recommend younger clients start saving for college early – even if it's a small amount.
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