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Worrying about the Cost of College?

Virginia 529

May 4, 2015

Virginia529 offers four programs to help people save money for higher education. Despite the “college” in their name, the money you save also can be used for technical, continuing education and advanced degree programs. Your savings grow free from federal and state income tax when used for qualified higher education expenses, which include tuition, books, and certain room and board charges.

This month, in celebration of 529 College Savings Day on May 29 (5/29), Virginia529 is offering special events to help families start saving. Look for more information in each Macaroni Kid (insert edition name) newsletter in May or visit Virginia529.com/529day if you can’t wait!

This article is sponsored by Virginia529.

I am in the 75 percent of parents with children under 18 who are worried about funding their children’s college tuition.  With three kids under five, we have already started Virginia 529 plans for our five and two year old and I plan to start one THIS month for our two month old – can’t believe we are already worried about college and she isn't even one yet.  I doubt we will not be able to fully fund their college accounts by the time they start with the rising costs of higher education, but I know we are putting as much in as possible given our family’s needs.  While saving for our kid’s college education is critical, we are still paying for mine.  I worked through college and am still a full time working parents.  I have been paying on student loans for both my undergraduate and graduate degrees since I graduated.  My parents contributed significantly to my higher education costs, but attending a private university added increased the costs.  My husband and I would want to provide the best education for our kids and we know starting to save now will pay dividends later for our family.