Paying for college - Nerdwallet

Paying for college

Saving and paying for college is a complex process. It can involve student loans, college savings accounts, and more.

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Jean Schwarz
Jean Schwarz
CFP®
Vienna, VA
4 recent answers
Melissa Sotudeh, CFP®
Melissa Sotudeh, CFP®
CFP®
Rockville, MD
3 recent answers
Linda Jacob
Linda Jacob
CFP®, AFC®
Johnston, IA
2 recent answers
Larry McClanahan
Larry McClanahan
CASL®, CFP®, ChFC, CLU
Clackamas, OR
1 recent answer
GreenPath Debt Solutions (NFCC)
GreenPath Debt Solutions (NFCC)
NFCC Certified Credit Counselor
Farmington Hills, MI
1 recent answer
All Questions: Paying for college
NewPosted February 5, 2016 · Chicago, IL
Larry McClanahan

Larry McClanahan

CASL®, CFP®, ChFC, CLU

Both you and the IRS will receive a Form 1099-R from the IRA custodian with details on how much you distributed. When you file your federal income tax...

NewPosted February 5, 2016

The short answer is to be very careful. Make sure you keep enough in savings to serve as an emergency fund and to cover any short-term (1 - 2 year) ex...

NewPosted February 3, 2016

Congratulations on finishing school and moving towards a great salary! Have you looked into the possibility your future employer would contribute towa...

NewPosted February 1, 2016 · New York, NY
Linda Jacob

Linda Jacob

CFP®, AFC®

First, let me say how excited I am for you that you want to be debt free and you are only 25 years old! That means you will reap the benefits of livi...

NewPosted February 1, 2016 · New York, NY
CCCS of Buffalo , Inc. (NFCC)

CCCS of Buffalo , Inc. (NFCC)

NFCC Certified Credit Counselor

An active payment history is a factor in credit scoring and when you carry no balances it could possibly lower your credit score. It might be a good...

NewPosted January 27, 2016 · San Francisco, CA

Students can withdraw money from their 529 plan without a potential tax penalty if they attend a post-secondary institution that is "eligible to parti...

NewPosted January 27, 2016 · San Francisco, CA
James Walsh

James Walsh

CFP®, AFC®

Good afternoon and thank you for your question. If your 150K is in a regular taxable account then once you fill out Free Application For Student Aid ...

NewPosted January 27, 2016 · Los Angeles, CA
Linda Jacob

Linda Jacob

CFP®, AFC®

I would recommend option 1 as I would never recommend removing money from retirement savings. However, please consider another option.

4) Pay cash! ...

NewPosted January 27, 2016 · Phoenix, AZ

That's a good thing to ask before you dive into a college savings strategy. Keep in mind that a 529 plan can be used to fund qualified education expe...

NewPosted January 27, 2016 · Seattle, WA

Given your young age, I agree with you. This is especially true since defaulting on a student loan could impact your retirement income. In addition,...

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