529 Plan

Calculating savings and expected family contribution (EFC)

It's nice to challenge yourself with applying for scholarships, but an important part of the college planning process should include a savings program to set aside money for tuition and fees. To help you with this planning process, there are links to several calculators that should help you in the planning process.
 

529 Plans - How to save money to pay for college

One of the best ways to save for college (and yes, savings should be an important part of your plan to pay for college) is through a 529 Plan. This plan is named after Section 529 of the Federal tax code that allows earnings in a state established savings plan, whose purpose is to save for higher education expenses, to be tax free. Technically these plans are called a "qualified tuition program" and they must be established and maintained by the state.

Paying for college, why planning is so important

Sticker shock, that's the best way to describe it. If you're the parent of a college-bound high school student sometime soon you will discover that a college education may be your most expensive purchase. Now most people do a lot of research when they buy a car or a computer. But how much time and thought are you giving that $200,000 college education?
 
We at ScholarshipMentor believe that being prepared will help you in making one of the most important financial decisions of your life.