Have a child in high school and trying to figure out how you’ll pay for his or her college education? There are some last minute tips that provide parents with practical and timely advice on things parents (and their children) can do while they’re in high school to better manage the looming costs of college.

With the cost of college increasing almost exponentially lately, I’ve had several requests for information on college planning, so I thought I’d put together some tips.

Coverdell education savings accounts have allowed investors to save for their children’s education in a tax favorable account for many years now. Unless Congress takes action many important provisions will expire at the end of this year. Here are some of those changes:

Each state has a 529 plan which is considered a state-sponsored investment program. States may give deductions or credits in state income tax for 529 contributions.  If you are in a state outside of Texas check the deductions of your state 529 plan on the web.
However, in Texas there is no state income tax so you can consider any state’s 529 plan for the funding of your children’s college expenses.  We have come to find that the four best 529 programs for Texas residents are those in Arkansas, Nevada, Utah …

Is college now only for the wealthy? The College Board announced that tuition and fees increased over 14% for public universities and 6% for private colleges in
2009. The posted prices for higher education have more than doubled over the last decade, a rate averaging over 7% a year, which far outpaces the general rate of inflation for that time period. Have we reached the point that only the wealthy can afford to send their children to college?

Many clients want to better understand what options they have to fund future college expenses for their children or grandchildren and there are several options available to you that help you save. Below are 5 possible ways to start funding a child’s or grandchild’s college education.