How to open a direct-sold 529 plan

Families saving for college can enroll in a direct-sold 529 plan by completing a form on the 529 plan’s website. Direct-sold 529 plans are convenient and generally offer low fees, but the account owner is responsible for selecting and monitoring the 529 plan’s underlying investments.

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What are sales charge breakpoints?

Some advisor-sold 529 college savings plans have up-front sales charges. For example, Class A shares may involve a sales charge of as much as 5.75%, but also involve lower annual expenses. A breakpoint reduces the sales charge on new investments when the total investments exceed a specified threshold.

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Does refinancing student loans really save a lot of money?

Lenders that refinance private student loans often advertise that borrowers save tens of thousands of dollars by refinancing their student loans. The savings figures are based on the average estimated reduction in total payments over the life of the loan. Are these savings real, or is this just a marketing gimmick?

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Reward good grades with 529 plan contributions

Rewarding good grades in high school with contributions to the student's 529 college savings plan may improve academic performance. It may also increase the odds that the student will enroll in and graduate from college.

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IRS Tax Return Transcripts

Applicants who file the Free Application for Federal Student Aid (FAFSA) and are unable to use the IRS Data Retrieval Tool may need to obtain an IRS Tax Return Transcript if their FAFSA is selected for verification.

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