None of the above. They are all acceptable recommendations.
The investment selections are limited.
Money can be used for any expense that benefits the child.
These plans are irrevocable gifts to the child.
There may be some tax benefits to the parents.
If the child is a minor, the parent must set up a special Trust Account to qualify under UGMA.
Long-term or low-interest loans
Researching the benefits of an online education, community colleges, or night courses
Applying for scholarships and/or work-study programs
Delaying freshman year to have more time for the student to save by working
Consolidate multiple times as needed through a government-approved lender.
Ask for a deferment to delay payments for up to six months.
Ask for a forbearance which allows interest payments only for up to twelve months.
Apply for a government loan consolidation program, which can extend the pay-off period for up to 30 years.
Awarded for outstanding performance in academics, athletics, or the arts.
Comes from federal and state governments, as well as from colleges and universities.
Includes loans, grants, and work-study programs.
Colleges and universities determine eligibility based on financial need.
Awarded only to incoming freshmen.
Web site links
Attending a private college is unaffordable.
Owning a home makes it impossible to obtain financial aid.
Expect the university or school to fully disclose all costs, scholarships, and financing options.
Students will always get a higher-paying job if they attend a private college.
They are state-sponsored savings plans to be used for higher education.
Taxes on the earnings are deferred.
Withdrawals are exempt from federal taxation.
There are no contribution limits.
This is not a good planning resource for college education.
There is no accreditation.
Address and phone number are not listed or available.
Assignment submissions and tests are not required.
With a fee, a degree is granted based on previous life and work experience only.
Qualification is based on financial need.
Qualification is not based on financial need.
Student earns federal minimum wage or more.
The money earned through FWS is used to determine financial need.
Student must submit the FAFSA form to apply for FWS.