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Index
Title
Contents
Introduction
About This Book
Conventions Used in This Book
Foolish Assumptions
How This Book Is Organized
Icons Used in This Book
Where to Go from Here
Part I : Figuring Out the Cost of College — and How to Pay It
Chapter 1: Braving the New World of College Savings
Doing the Numbers
Exploring Section 529 Plans
Checking Out Coverdell Accounts
But Wait! There’s More!
Maximizing Your Savings, Minimizing Your Tax
Chapter 2: Checking Out the Cost of College
Dissecting the Total Bill
Looking into the Costs of Various Types of Schools
Going on to Graduate School
Pushing Forward to Professional Studies
Distance Learning: The Wave of the Future
Chapter 3: Realizing All Your Resources
Identifying How Parents Can Contribute
Accepting Help from Family
Understanding the Tax on Gifts
Seeking Out Student Sources
Chapter 4: Sharpening Your Savings Techniques
Focusing on the Family Budget
Changing Your Perspective — Watching Your Savings Grow
Dealing with Debt
Saving Throughout the Ages
Part II : Piecing Together Section 529 Plans
Chapter 5: Laying Down the Basics of Section 529 Plans
Discovering the Parts of 529 Plans
Figuring Out the Qualifying Criteria
Contributing to a 529 Plan
Picking Your Plan
Chapter 6: Applying Section 529 Plans to Your Household
Finding the Best Plan for You
Opening a Plan
Funding a Plan
Managing Your Investments
Taking Qualifying Distributions
What Does Uncle Sam Have to Say?
Chapter 7: Weighing the Pros and Cons of Section 529 Plans
Pondering the Pros of Section 529 Plans
Working Around the 529 Shortcomings
Part III : Uncovering Coverdell Accounts
Chapter 8: The Changing World of Coverdell Education Savings Accounts
Covering the Basics
Making Account Contributions
Taking Distributions
Transferring Accounts and Changing Account Beneficiaries
Chapter 9: The Mechanics of Coverdells
Getting a Handle on What You Want
Opening a Plan
Devising an Effective Investment Strategy
Selecting Investments and Placing Buy Orders
Paying Into a Coverdell Education Savings Account
Managing Your Account
Making Distributions
Chapter 10: Figuring the Pluses and Minuses of Coverdell Accounts
Knowing the Pluses of Coverdells
Dealing with Coverdell Snags
Part IV : Filling In the Gaps: More Ways to Save for College
Chapter 11: Saving for College with Qualified U.S. Savings Bonds
Choosing Savings Bonds that Work
Determining Who’s Eligible
Buying and Redeeming Savings Bonds
Rating the Usefulness of Saving Bonds for You
Chapter 12: Setting Up Personal Investment Accounts for Yourself and Your Kids
Pondering Personal Investment Accounts
Looking at Your Investment Options
Registering Your Account
Managing Your Personal Investment Account
Chapter 13: Saving for College in Trust Accounts
Getting the Definitive Word on Trusts
Looking at Types of Trusts and How They Work
Paying Tax on Your Trust
Identifying the Pros and Cons of Trusts in Relation to College Savings
Chapter 14: Saving in Your Retirement Plans: The IRA Dilemma
Using Your Traditional IRA to Cover College Expenses
Tapping into Your Roth IRA for College Savings
Making Early Distributions from Other Retirement Accounts
Rolling Over Retirement Accounts to Obtain Maximum Benefit
Chapter 15: Selling or Refinancing Your Family’s House
Saving for College in Your House
Using Home Equity
Chapter 16: Accessing Scholarships and Awards
Searching for Scholarships, Fellowships, and Grants
Acquiring College Funding in Exchange for Service
Looking at Tax Issues Regarding Scholarships, Fellowships, and Grants
Chapter 17: Turning On the Financial Aid Faucet
Financial Aid 101
Applying for Aid (Yes, the Dreaded FAFSA)
Squeezing Out Every Drop of Available Money
Part V : The Part of Tens
Chapter 18: Ten Musts for Successful Savings
Paying Into Your Savings Plans First and Regularly
Understanding Your Investments
Changing Investments When Necessary
Staying Current on Tax Law Changes
Being Realistic about Investment Returns
Not Counting on Great-Aunt Sadie’s Inheritance
Funding Your Account Now — Not Later
Feeding Your Retirement Plan
Asking Questions of the Experts
Learning from Your Mistakes
Chapter 19: Ten Ways to Dodge the Tax Code Minefield
Knowing Who’s Giving and How Much
Being Aware of Your Income and Phaseout Amounts
Keeping Track of Your Contributions
Avoiding the Penalties from Overfunding an Account
Knowing Your Effective Tax Rate
Staying Aware of Tax Laws in Your State
Keeping Track of Your Qualified Education Expenses
Staying Informed about Changes in Current Laws
Being Honest about Your Child’s College Plans
Getting Answers by Asking Questions
Appendix: Section 529 Plans, State by State
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