Freshman Fund Blogs…

Alexandre Duret-Lutz cc

I walked by a colleague’s office the other day and noticed that her desk was strewn with info on 529 plans, college scholarships, FAFSA forms, and a 4″ thick book listing every college in the US.

“College planning time?” I ventured an out-there guess.

She nodded and went on to tell me about how overwhelmed she was with the whole process. With a high school senior and an 8 year old son, she knew she was getting a late start.

“There’s just so much information I don’t know where to begin,” she said “I feel like I’ve really let my family down”.

While it’s true that my colleague is getting a late start, that doesn’t mean she shouldn’t start at all. Think about it: even if you start after your kid is in high school (or even college, for that matter), putting money away each month will get you that much closer. Using a tax-advantaged plan, such as a 529, will get you even closer yet. Here is the simple 3 step plan that my colleague and I set in motion: Choose and open a 529 TODAY.

1. Visit SavingForCollege.com and simply make a decision.
2. Set up automatic payroll or bank account deductions to make saving automatic.
3. Ask friends and family to help using FreshmanFund.com (you knew that would be part of the plan).

Saving for college is tough, and starting late makes it even harder. But no matter what doing SOMETHING is better than doing NOTHING.