What's New in the College World?

If you're the parent or grandparent of a current or prospective college student, you might be interested to learn what's new in the world of higher education.

Higher college costs

For the 2018-2019 school year, average costs for tuition, fees, room, and board were:

$21,370 at public colleges (in-state)

College Saving: How Does a 529 Plan Compare to a Roth IRA?

529 plans were created 22 years ago, in 1996, to give people a tax-advantaged way to save for college. Roth IRAs were created a year later, in 1997, to give people a tax-advantaged way to save for retirement. But a funny thing happened along the way — some parents adapted the Roth IRA as a college savings tool.

Tax Cuts and Jobs Act: 529 Plans Expanded

In December 2017, the Tax Cuts and Jobs Act, a sweeping $1.5 trillion tax-cut package, became law.

College Board Releases 2017-2018 College Cost Data

The College Board has released college cost data for the 2017-2018 school year in its annual Trends in College Pricing report. Here are the highlights:

Public colleges (in-state students):

--Tuition and fees increased an average of 3.1% to $9,970

How much money should a family borrow for college?

There is no magic formula to determine how much you or your child should borrow to pay for college. But there is such a thing as borrowing too much. How much is too much?

How can families trim college costs?

Trimming college costs up front can help families avoid excessive college borrowing and the burdensome student loan payments that come with it. Here are some ideas.

Paying for College – Should You Use Your IRA Funds?

It’s back to school time and the costs for college are quickly mounting. Where is the money going to come from? Many times individuals look to their retirement funds to pay higher education expenses. Can this be done and is it a smart move?

Five Common Financial Aid Myths

With some private colleges now crossing the once unthinkable $70,000-per-year mark in the 2017/2018 school year, and higher costs at public colleges, too, financial aid is essential for many families. How much do you know about this important piece of the college financing puzzle? Consider these financial aid myths.

Kickstart Your College Fund with a 529 Plan

If you're looking to save money for college, one option to consider is a 529 college savings plan. Created over 20 years ago and named after the section of the tax code that governs them, 529 plans offer a unique combination of features that have made them the 401(k)s of the college savings world.

TABLE: Federal Student Loans For College

Many families rely on federal student loans to help pay for college. This table describes features of the most common federal loans.