The tax bill that was finally introduced last week impacts higher education in a number of ways, most of them negative for students and families. Here is a quick summary: Education tax credits: The bill slightly expands the American Opportunity Tax Credit but eliminates the Lifetime Learning Credit. While the AOTC is more generous than the LLC ($2,500 in tax…
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Tax Credits and Deductions
Here is an article I wrote for another advisor’s site on college affordability.
As fall kicks into gear, students begin looking in earnest at colleges. Kids tend to focus on a few core aspects of colleges when creating and narrowing down a list: majors available, location, big vs small. Later in the school year, I get calls from panicked parents whose students have fallen in love with and often been accepted to wonderful
I’ve probably said this before, but there are families staring down tuition payments for the first time right around now. Most families use a combination of savings, cash flow and borrowing to pay for college. The first two are reasonably straightforward; they’re yours, after all. Borrowing is more complicated, and chances are that if you have a high school student,…
Today’s post is written by a fellow fee-only advisor, Greg Phelps, CFP®, CLU®, AIF®, AAMS®, of Redrock Wealth Management. Saving for a child’s college education is perhaps one of the most noble things a parent will ever do. It’s also one of the toughest financial goals to tackle, because similar to healthcare costs, college expenses have risen across the board at…