Guest guest Posted March 11, 2008 Report Share Posted March 11, 2008 Hi Everyone, I am sorry if this is too far off topic for this site. My husband and I want to set up college funds for our children, but we don't know anything about it. Do any of you have recommendations on how to get started or who to set them up with? Thanks in advance, Carla Quote Link to comment Share on other sites More sharing options...
Guest guest Posted March 12, 2008 Report Share Posted March 12, 2008 We set up a 529 account for our son, through our bank. Very basically, it's like a 401k, to use for school anywhere in the US. We set it up a couple of years ago, and I think we have it streamlined so that we add to it automatically from our main account with every pay day. Try your bank first, as they may have something like this already. If not, maybe they can help you with it. I looked into (I think this was it) college choice, but I don't think most of what we normally get qualified for it, so it wasn't really worth it for us, since in a month I think I tracked that we barely put in like .20 or something. They may have added a lot more things that qualify now, but like I said, there wasn't much a few years ago, and I think to do it we'd have had to start eating more junk food and products made with some form or milk, or meat (we're vegetarians and our son has a milk protein allergy - so it wasn't helpful to us). YMMV. Missie On Tue, Mar 11, 2008 at 4:06 PM, chuala <chuala wrote: > Hi Everyone, > > I am sorry if this is too far off topic for this site. My husband and > I want to set up college funds for our children, but we don't know > anything about it. Do any of you have recommendations on how to get > started or who to set them up with? > > Thanks in advance, > > Carla > > > -- http://mszzzi.zoomshare.com http://www.flickr.com/photos/mszzzi/ ~~~~~(m-.-)m Quote Link to comment Share on other sites More sharing options...
Guest guest Posted March 12, 2008 Report Share Posted March 12, 2008 529 is better than a " prepaid " program, as the dividends are reinvested. In the prepaid program, the interest made is given to the company. My hubby used to sell them, we have Fidelity and really like it. We have $50 a month auto debited. Cassie " life's a garden, dig it! " Sent from my iPhone On Mar 11, 2008, at 5:06 PM, " chuala " <chuala wrote: Hi Everyone, I am sorry if this is too far off topic for this site. My husband and I want to set up college funds for our children, but we don't know anything about it. Do any of you have recommendations on how to get started or who to set them up with? Thanks in advance, Carla ______________________________\ ____ Be a better friend, newshound, and know-it-all with Mobile. Try it now. http://mobile./;_ylt=Ahu06i62sR8HDtDypao8Wcj9tAcJ Quote Link to comment Share on other sites More sharing options...
Guest guest Posted March 13, 2008 Report Share Posted March 13, 2008 I didn't think they did prepaid anymore because the cost of tuition rises so much every year. I think if prepaid is an option for you that is what you should do. I think the cost of the tuition going up will be higher than what you would make on the interest rate. Renee Cassie Dixon <roxy87cabriolet wrote: 529 is better than a " prepaid " program, as the dividends are reinvested. In the prepaid program, the interest made is given to the company. My hubby used to sell them, we have Fidelity and really like it. We have $50 a month auto debited. Cassie " life's a garden, dig it! " Sent from my iPhone On Mar 11, 2008, at 5:06 PM, " chuala " <chuala wrote: Hi Everyone, I am sorry if this is too far off topic for this site. My husband and I want to set up college funds for our children, but we don't know anything about it. Do any of you have recommendations on how to get started or who to set them up with? Thanks in advance, Carla ________ Be a better friend, newshound, and know-it-all with Mobile. Try it now. http://mobile./;_ylt=Ahu06i62sR8HDtDypao8Wcj9tAcJ Quote Link to comment Share on other sites More sharing options...
Guest guest Posted March 13, 2008 Report Share Posted March 13, 2008 Florida Prepaid sent out flyers to my students, so I assume prepaid is still an option. The downfall about Fl Prepaid is that many of the states will take it all in one lump sum. I mean, Lily has no choice but to be a Gator, but if we dis-own her, she may want to attend Harvard! LOL (my daughter is 21 months old;) ) Cassie " life's a garden, dig it! " Sent from my iPhone On Mar 13, 2008, at 8:51 AM, Renee Carroll <renecarol25 wrote: I didn't think they did prepaid anymore because the cost of tuition rises so much every year. I think if prepaid is an option for you that is what you should do. I think the cost of the tuition going up will be higher than what you would make on the interest rate. Renee Cassie Dixon <roxy87cabriolet wrote: 529 is better than a " prepaid " program, as the dividends are reinvested. In the prepaid program, the interest made is given to the company. My hubby used to sell them, we have Fidelity and really like it. We have $50 a month auto debited. Cassie " life's a garden, dig it! " Sent from my iPhone On Mar 11, 2008, at 5:06 PM, " chuala " <chuala wrote: Hi Everyone, I am sorry if this is too far off topic for this site. My husband and I want to set up college funds for our children, but we don't know anything about it. Do any of you have recommendations on how to get started or who to set them up with? Thanks in advance, Carla ________ Be a better friend, newshound, and know-it-all with Mobile. Try it now. http://mobile./;_ylt=Ahu06i62sR8HDtDypao8Wcj9tAcJ Quote Link to comment Share on other sites More sharing options...
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