Saving for college
Is a joint savings account listed with mother and high school sophomore daughter a bad way to save for college?
Terry Says
It’s a TERRIBLE way — the worst way!! Assets in that account weigh 7x more heavily against you if you apply for financial aid!!
It’s a bit late to pen a 529 college savings account, but you do have at least 5-7 years to make the money grow tax-free. Go to www.SavingforCollege.com to learn more. Or if you’re an Illinois resident, as many of my readers are, go to www.BrightStart.com. When you open an account, take the most conservative investment option.
