Roth IRAs
Roth IRAs were designed for retirement
planning but do allow you to use them
for college expenses. A benefit to this
funding is that it does not penalize a
student’s financial aid consideration
(whereas 529 Plans can). However, the
earnings on this investment will be taxed
by both federal and state when used for
educational expenses. Tuition, books
and educational fees are considered
eligible expenses, but room and board
is not. Again, it’s important to consult a
financial planner to understand the best
vehicles for college savings investment.
529
bonus
tip
With a CollegeCounts
529 Rewards Visa
Card, you can earn
1.529% on your
everyday purchases.
#2 Creative and Easy Ways to Save
Upromise
Upromise is an online shopping service that gives you 5-15 percent
rebates to use toward a college fu