While it is smart to set funds aside for your children’s or grandchildren’s future education expenses, there is still the possibility that not every penny you have set aside will actually be used for college. Some people earn scholarships and no longer need all of the money set aside, while others may attend a trade school that costs substantially less than what you planned for. If you are wondering what you can do with money leftover in a college savings plan, the answer will depend on how you managed the funds. Add Funds To A Health Education Exclusion Trust Funds that are…Read More
With students returning to school for the fall semester, many remain uncertain whether they will be attending their classes in person or learning online. If you are the parent of a college student, one thing is certain regardless of how your child will be learning during the pandemic, higher education is still going to be costly. This is why it is crucial to start creating a flexible plan for potential expenses that meets your unique needs. Coverdell Education Savings Accounts If you invest funds in a Coverdell education savings account, the money can only be used for “qualified education expenses.” These…Read More
