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How to Be Financially Prepared for Your Kids' College Education
Orland Park, IL (May 6, 2013) – It’s always smart to plan ahead, especially when it comes to saving for your children’s college educations. The time will come faster than you realize and you don’t want to scratch your head about what to do or, more importantly, what you should have done years ago. Marquette Bank, a locally-owned neighborhood bank, recommends that parents consider starting a 529 College Savings Plan. There are two different options available: a prepaid program and a savings program. Both programs cover tuition at eligible public and private universities. The main difference among the two plans is that funds in a savings program can also be used to cover other non-tuition expenses (such as room and board). Your financial advisor can help advise you on what specific program is your best option.
In addition, Marquette Bank lists three benefits of starting a 529 College Savings Plan:
Marquette Bank offers free savings, budgeting and retirement-planning services for customers and neighbors through a comprehensive free financial review. If you are interested in a free financial review or would like more information on 529 plans, please call 1-888-254-9500.
About Marquette Bank: