Paying for Tuition
The cost of college tuition has skyrocket over the past decades. The following tips are geared to help you find ways to finance your children’s college education.
- Apply for financial aid: visit our Financial Aid Center for information and guidance about applying for different types of financial aid.
- Invest in a 529 plan.
- Invest $2,000 a year in a Coverdell Education Savings Account.
- Borrow from retirement accounts.
- Take out a home equity loan.
- Borrow against your life insurance.
- Tap government loans, such as Sallie Mae.
- Take advantage of the American Opportunity Tax Credit and Lifetime Learning Credit on your tax return.
- Investigate various college student loans, including:
- Stafford Loans
- Perkins Loans
- PLUS (“Parent loans for undergraduates”) Loans
- Apply for a personal loan from a private lender