When you’re planning how to pay for your child’s college education, there are many options to consider. Among these options is a 529 college savings plan, which allows you to begin saving money today to pay for your child’s future college costs.
In 2022, families paid an average of 20% more for their children’s education costs than they did ten years ago. Starting to save for college as early as possible can help you plan ahead and be prepared for potential tuition price increases. Before starting a savings plan, it’s important to understand what exactly 529 plans are and how they impact your overall college costs.
