The federal financial aid program includes subsidized loans for students who can prove financial need and unsubsidized loans for other students, as well as grants, and work-study programs in which students are given jobs, usually on campus. Other borrowing options include home equity loans and loans against retirement savings. With tax advantages and no income limits, Section 529 plans are the new way to save for college. These tax-deferred savings plans are similar to IRAs, but the funds in these plans are earmarked for tuition. Although you don't get a tax deduction on your investment, the money grows tax-deferred and future withdrawals are taxed at the student's presumably lower tax rate.
Community colleges can help cut the cost of a four-year degree .
More and more students are realizing that they can spend the first two years at a community college, which is typically less expensive, and then transfer to a state college or university to finish their undergraduate studies. It's not a good idea to forgo funding your retirement in favor of saving for college. While financial aid, gifts, and current income can help finance a college education, the same resources may not be available for retirement. And since many colleges don't include money in retirement accounts when calculating the family's expected contribution, saving for retirement may actually help you qualify for financial aid. Used properly, e-mail is a powerful business tool that can facilitate communication within your company and improve interactions with outside vendors and customers.