Let’s be clear: there are plenty of reasons beyond job prospects to attend college. Let’s also be clear that college costs a fortune, so the potential return of that fortune invested needs to be part of the consideration whether to attend.
Merit aid is often awarded based on GPA and test scores. Significantly changing your GPA is challenging, especially if you’re already a junior. So knocking it out of the park on the SAT or ACT is one of the best quick-fixes around for increasing your chances of receiving merit aid.
You have until April 15 or the date you file your taxes to make a 2014 529 plan contribution, if you are an Oregon resident (or a resident of another state that permits prior-year contributions to be made up until tax filing). But how do you do it? It depends on how you’re making your contribution.
Digressing into the personal here. A couple of weeks ago, my family attended our first Curriculum Night at their future (this fall) high school. About 3/4 of the incoming families crammed into the cafeteria to learn more about the school’s IB program.
It’s tax time and the questions are flying. One that comes up regularly is, “What is the tax deduction for my state’s 529 plan really worth?”