I’m preparing to send my daughter off to college

My daughter has been accepted and will be attending University in the Fall. We have a small 529 plan, a small scholarship of $6,000 per year, and regular savings. What would be the best way to pay for this? Should we use all of the 529 funds the first year?

SAVAGE SAYS:No, give the 529 account a chance to grow tax-free.  And try not to use it until the second year. That way it won’t show up as a source of funding, and you will qualify for more financial aid.