[PDF][PDF] College savings options and the impact of savings on financial aid
J Ma - Research Dialogue, Issue, 2005 - tiaa.org
J Ma
Research Dialogue, Issue, 2005•tiaa.orgIn the last few decades, the cost of attending college has been going up at a much faster
pace than the general price inflation and family income, making paying for college a
challenge for many families. This article describes several ways to save for college,
including tax-favored education savings programs such as the 529 Plan and the Coverdell
Education Savings Account. It also discusses how the federal formula calculates a
dependent student's Expected Family Contribution (EFC) and illustrates how asset holdings …
pace than the general price inflation and family income, making paying for college a
challenge for many families. This article describes several ways to save for college,
including tax-favored education savings programs such as the 529 Plan and the Coverdell
Education Savings Account. It also discusses how the federal formula calculates a
dependent student's Expected Family Contribution (EFC) and illustrates how asset holdings …
>>> EXECUTIVE SUMMARY
In the last few decades, the cost of attending college has been going up at a much faster pace than the general price inflation and family income, making paying for college a challenge for many families.
This article describes several ways to save for college, including tax-favored education savings programs such as the 529 Plan and the Coverdell Education Savings Account. It also discusses how the federal formula calculates a dependent student’s Expected Family Contribution (EFC) and illustrates how asset holdings in various savings vehicles will likely affect a student’s financial aid eligibility. Highlights of the article include:
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