The idea of financing kids’ college education through long term financial planning is not new. For the past decades, parents have made the efforts to save and invest for the security of their kids’ future. The government participates and creates several laws to support easier financial planning for parent. And up to now, the government has been improving the system of education and polishing the laws to better give the kids the right and secured education they deserve.
The result of years of improving the financial planning system is the creation of several options to effectively build up the necessary funds to send kids to college.
Here are some options for the financial plan to send your kids to college and keep up with the increasingly growing tuition fees in these educational institutes.
Prepaid-tuition plans.
Perhaps, one of the more popular long term financial planning options is the prepaid-tuition plans. It works like college-savings plans. It works by allowing you to save for college education in a tax-deferred investment. Prepaid-tuition plans are based on the present cost of college education and not the projected cost of...
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