{"id":52632,"date":"2015-06-18T15:33:06","date_gmt":"2015-06-18T22:33:06","guid":{"rendered":"https:\/\/www.cookiesandclogs.com\/?p=52632"},"modified":"2015-06-18T15:53:01","modified_gmt":"2015-06-18T22:53:01","slug":"scholarshare-529-college-savings-plan","status":"publish","type":"post","link":"https:\/\/www.cookiesandclogs.com\/scholarshare-529-college-savings-plan\/","title":{"rendered":"All About the ScholarShare 529 College Savings Plan"},"content":{"rendered":"
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When it comes to education after high school, the sheer number of options is mind-boggling. So, to clear up some confusion, I wanted to share with you some of the information I gleaned during\u00a0my meeting with ScholarShare<\/a> last month.<\/p>\n <\/p>\n 8 out of 10 young adults graduate college with some $28,400 in student loans and 2015 saw the most indebted class with a $35,000 debt. Paying these loans off often limit your kids\u2019 full funds and force them to postpone major life decisions like moving abroad, traveling, or even starting a family. And, for the first time, these\u00a0are overlapping as parents and grandparents are now retiring with those same education debts still haunting them. So, any way you can lessen that load now will help.<\/p>\n Many imagine that investing in a college savings plan means that they have to put away 100% of their children\u2019s future college tuition. That would equal to about $1725 per month from childhood. While that would be nice in an ideal world, saving that much each month is not mandatory.<\/p>\n One major point that was stressed during our event was that a 529 plan is \u201cjust one piece of the pie when it comes to college savings.\u201d Other pieces of that \u201cpie\u201d are made up of current income, help from family, if the student has a job, financial aid, scholarships, etc.<\/p>\n <\/p>\n Speaking of financial aid and scholarships, it would be unwise to assume these would cover the entirely of their children\u2019s education. These usually only cover a portion of costs or may only apply to the first year. When it\u2019s time to pay out of pocket, the financial shock might be too much to bear.<\/p>\nWhy Should Parents Consider a 529 College Savings Plan?<\/h3>\n
Common Misconceptions<\/h3>\n
What is ScholarShare?<\/h3>\n