College Tuition and Tax Advantages

Question: I’ve heard of tax advantages you can get by setting up different types of college savings plans. I want to help my granddaughter with her tuition. Could you tell me where to get information on some plans that would also help me save on taxes?

Answer: For the most comprehensive info on 529 savings plans, visit SavingforCollege.com. If you’d like specific advice, please feel free to call or email. Contact information is available at my Web site, PayLessforCollege.com. I can discuss various financial aid strategies (529 plans included) based on your situation.

Question: Are there benefits to using home equity or a line of credit to pay for college?

Answer: Yes. The interest is tax deductible. But don’t forget to legally qualify for maximum financial aid first, so you can borrow the least. Contact me for the best strategies learned from my 29 years of trench warfare in the financial aid wars.