Secure Act 2.0 Now Allows for 529 to Roth IRA Rollovers Secure ACT 2.0, passed by Congress late last year (read more about it here) added a nice new quirk to help college savers with unused funds they have put into a 529 plan. Starting in 2024, beneficiaries of [...]
One of the most important pieces of the college financing puzzle is the Free Application for Federal Student Aid (FAFSA). Without the FAFSA, a college student is unlikely to be able to apply for or receive certain types of federal student aid, including federally subsidized student loans. What [...]
If one or more of your children will reach college age soon, you may be wondering how you will manage all the costs. For many families, a financial aid package provides some level of tuition support in the form of grants, scholarships, loans, or work-study placements. Aid is primarily [...]
Imagine your reaction to the following scene: You return home from work one night to find your teenage daughter running gleefully about with a letter in her hand. When you calm her down, she tells you that she has just been accepted to the incoming freshman class of a [...]
A 529 plan is a state-sponsored tax-advantaged plan designed for saving for future education expenses authorized by Section 529 of the Internal Revenue Code. If used for education, the assets grow tax-free. According to the College Savings Plan Network, since 529 plans came into existence in 1996, they [...]
With college costs increasing each year, many new Lockheed Martin parents are trying to figure how to start saving for their kids' college educations. What's the best way to get a college savings account started? Let's look a few options. Savings account The easiest and quickest way to [...]
