10 Ways to Fund College Costs

 

  1. Invest in mutual funds and keep the gains under $4300 zero bracket of the child.
  2. Invest in growth mutual funds that pay no dividends and cause no taxes to cash out.
  3. Open a Roth or Traditional IRA for you, your spouse, your child if they have earnings.
  4. Series E government bonds produce no interest income until maturity or surrender.
  5. Invest in tax deferred annuities in your child's name.  Non taxable accumulation.
  6. Use the HOPE Scholarship Tax Credit of $1500 for college tuition & expenses.
  7. Use Qualified State-Sponsored Tuition Plans (QSTP) (Grandparents/Friends can contribute)
  8. Take advantage of Student Loan Interest Deductions. 1st 60 mths interest is deductible.)
  9. Have your employer reduce your salary and pay the tuition for you, in the same amount.
  10. Buy Universal Life Insurance that earns interest, and,  has a -0- cost loan provision.

    For more detail  call Group Health Plans of La.  1 888 456 1858 /504-456-1858