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What Do You Get the Graduating High School Senior?

Posted by Manuel Fabriquer on Thu, Jun 27, 2013 @ 6:00 AM

college technology

What do you get the graduating high school senior who has everything?  After all, high school seniors usually have all the latest clothing and gadgets, so it can be difficult to find something they don’t already own.  Yet, we all want to give that special student something that will make a difference in their lives.  This is especially true when it comes to close family and friends. 

The 529 Plan

Now it is possible to make a third party monetary contribution to some 529 plans.  Through a 529 plan, a student can save money in a tax favorable way to pay for college tuition and related costs.  In essence, you could contribute to a 529 plan whether the student just completed kindergarten or high school.

There are some new websites that have recently come online that allow third party contributions and even provide parents with a way to solicit gifts to their 529 plan.  However, parents should be aware that there are problems associated with these websites such as:

  • Problems with factual inaccuracies
  • Difficult to understand terms and conditions
  • High fees associated with the program
  • No help in selecting the right program

As with any financial instrument, it is recommended that you receive advice and direction on how to best maximize your investment. 

We are Here to Help

Should you be interested in learning about a 529 plan or perhaps other vehicles that can help your student pay for college, call our office today.  We have information that can be tailor fit match your needs and particular time frame.  We will navigate you to the best solution that will get you where you want to go.  Call today and don’t forget to also check out my next FREE workshop where I cover how to pay for college without going broke!

 

Tags: College Funding, cost of attending college, money for college, Saving for college, Manuel Fabriquer, College Admissions, attending college, Paying for college, cost of college

College Planning ABC and Manuel Fabriquer Featured in US News and World Report

Posted by Manuel Fabriquer on Mon, Sep 26, 2011 @ 8:40 PM

It is official, both College Planning ABC and Manuel Fabriquer were featured in US News and World Report speaking on the subject of, "How to Get the Best Financial Aid Package".

 

US news and world report

Many times when news organizations like US News and World Report seek commentary on college planning, they turn to noted experts in the field.   This is why reporter Kimberly Wetzel knew to call Manuel Fabriquer when writing this story.

Here is a link to the entire story which is full of good solid advice:

 Get The Best Financial Aid Package

So, when you need to have the best college planning information go to where the news authorities go, call Manuel Fabriquer of College Planning ABC.  You will get the very best and most current information.

 

Tags: College Planning News, Saving for college, College Admissions, secure financial aid

Parents Are Not Saving for Kids College

Posted by Manuel Fabriquer on Wed, Aug 10, 2011 @ 7:25 AM

I wanted to share this article with you on research of what was discovered about parents saving for college.

http://www.accountingtoday.com/news/Parents-Not-Saving-Childrens-College-Education-59511-1.html&hl=en&geo=us

I understand that it’s tough to save for both retirement and college for the average American family. I have kids myself and it’s really a discipline of saving something every month. Things are tough right now with what is happening in the economy and the stock market.

The article mentions that parents plan to do the best they can to pay for college but are hoping that they are going to fund college on scholarships, academic, and sports scholarships.

In my opinion, I think that parents really need to get help with this process. I think that parents are naive about this whole process and how much parents can actually afford for college. I also believe that parents do not understand how much the cost of higher education is going to cost the family. In California, the cost for a UC College is roughly $30,000 per year and the average family will spend at least $120,000 per student. Most families that I see have 2- 3 children, some savings but only enough for one child. Most families have enough for the first child coming into college, but when the next child comes into college there is a massive problem. The problem lies with cash flow and being able to fund college on a monthly basis. Many families have a budget to pay for a portion of college, but the budget definitely is off when the next student enters college. The trick to college funding is how to keep funding retirement without sacrificing and minimizing education for their children.

What to do? Come to one of my upcoming Free College Planning Workshops or attend a conference call. Check out www.collegeplanningabc.com for events .

Tags: scholarships, Blog, College Funding, money for college, Saving for college