Blog by Brian Biggs, CPA – Storen Financial
With children heading back to school soon, it’s time to get serious about saving money for education after high school (or Indiana K-12 tuition). It’s never too late to start and Indiana offers a great state tax benefit on contributions into an Indiana CollegeChoice plan.
Here are a few common myths about CollegeChoice accounts…
- A 529 plan can only be used in my home state
- If the child doesn’t go to college, I lose money
- I can only choose from aggressive investment options
- I’ll just borrow the money later
- I can only use 529 plans to pay for tuition
- It’s too late to start a 529 plan account
- 529 plan accounts are too small to make a difference
- Grandparents can’t be account owners
- A 529 plan will have a negative impact on financial aid opportunities
Click here to get the facts to dispel these myths (pdf).
Learn more about CollegeChoice programs and enroll here.
If you have any questions, feel free to contact us.