2. Thou shall take advantage of state tax deductions and federal tax-free growth of 529 plans.
3. Thou shall start saving for college as early as possible.
4. Thou shall not pay high fees, compared to investment alternatives, to fund managers on your investments.
5. Thou shall always apply for financial aid (every year a child is in college) and do so early, no matter what your financial circumstances are.
6. Thou shall arrange for your collegebound students to visit at least five colleges BEFORE senior year of high school, so that they may have some options and ideas when the time comes.
7. Thou shall have a diversified portfolio for your college fund, which includes either guaranteed return or some other conservative funds and at least one alternative investment.
8. Thou shall check into qualifications for education tax credits for students in college annually.
9. Thou shall plan one year in advance of having students in college to rebalance assets to better position your family to receive financial aid, but do so ethically without hiding any facts about your financial circumstances.
10. Thou shall encourage extracurricular activities so that your collegebound students have a balance with academics and other character-building pursuits.
To learn more about tax-free savings, visit http://www.401kid.com.
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