Paying For College

News & Analysis as of

The ABLE account: A good alternative to a special needs trust?

Late last year, Congress passed, and the President signed, the Achieving a Better Life Experience (ABLE) Act. The act authorizes a new, tax-advantaged savings account, modeled after the Section 529 college savings account,...more

Parent's Responsibility to Pay for Child's College Education

In 1993, Pennsylvania passed a law that provided courts the authority to require parents to pay college expenses for their children (23 Pa.C.S. § 4327). In 1995, the Pennsylvania Supreme Court, in Curtis v. Kline, held that...more

Saving for college is also good for your estate plan

A 529 plan is one of the most powerful and flexible tools available for college savings, but it also provides some unique estate planning benefits. This article explains how 529 plans work for savings purposes, but also notes...more

Insight on Estate Planning - Year End 2014

In This Issue: - Saving for college is also good for your estate plan - Will your estate plan benefit from a trust protector? - Charitable deductions: Substantiate them or lose them - Estate...more

CFPB promotes online student financial aid resources

In a new blog post, the CFPB promotes its online financial aid resources to students who are now in the process of choosing which school to attend this fall. The blog post directs students to a just-launched “crisp new...more

College Expense as “Child Support” Gets the Green Light from the California Court of Appeal

I am always amazed and a bit impressed by parents who, after a financially devastating divorce, want to find a way to pay for their child’s college education. In California, state mandated child support ends (except for...more

Child Support: Will I Really Have to Pay for My Child’s College?

“Aren’t I done paying support once my kid turns 18?!” is common sentiment among many parents who are paying child support. A recent case that has been making waves in the news involves a New Jersey teenager who sued her...more

College Savings for Students With Special Needs

Faced with the increasing cost of higher education, students and their families must begin saving for college from an early age -- often from birth. 529 College Savings Plans offer families a great opportunity to set aside...more

New York Launches Student Protection Unit, Investigation Of Debt Relief Companies

On January 22, New York Governor Andrew Cuomo launched a new Student Protection Unit within the New York Department of Financial Services dedicated to investigating potential consumer protection violations in the student loan...more

Thanks, Grandma and Grandpa! 3 estate-planning-friendly strategies to pay for a grandchild’s college education

It’s no secret that the cost of a college education continues to soar. But this article offers three options to help one’s grandchildren deal with this burden while saving gift and estate taxes: direct tuition payments to the...more

CFPB Launches Inquiry Into Financial Products Marketed through Higher Learning Institutions

On January 31, the CFPB issued a notice and request for comment about how current and future arrangements between institutions of higher education and financial institutions could be structured “to promote positive financial...more

CFPB’s “Paying for College” site continues to evolve

Last week Peter Jackson, the Senior Advisor for Communications at the CFPB, put up a post on the CFPB’s blog describing the CFPB’s “Paying for College” web tools, which are currently in a beta stage and which are still...more

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