College funds
Hi Terry I’m here again my daughter is planning on going to her first yr of college we have enough saved for one yr. in bright directions sound we keep that in there and keep saving and do a loan first ? or us the bright direction $ first ?
Thanks again your awesome
Tom
Terry Says
That depends on how you invested INSIDE Bright Start. If you are in the most conservative money market investment, I would use the money for the first year. You won’t have to take a loss. And keep savings inside the plan, and outside. Income may be an issue in the future, and it may even add to the needs-based aid you can get for college. OR it may mean your daughter lives at home for the second year of school.
And her’s a PS — She is planning to go to college this fall. I can’t look that far forward, but by August things may not have cleared up re this virus. At that point the college may not be opening dorms, but instead offering online courses. I know some schools must be planning for this. So don’t pay the tuition until it is due — and watch for changes that may come.
