All the Hacks with Chris Hutchins Saving on the Cost of College with Brad Baldridge
66 snips
Nov 27, 2024 
In this engaging conversation, Brad Baldridge, a Certified Financial Planner® and founder of Baldridge College Solutions, shares expert insights on saving for college. He highlights common financial pitfalls families face and emphasizes the importance of early planning. Listeners learn about optimizing 529 plans, understanding FAFSA updates, and the power of scholarships. Brad also discusses creative tactics to leverage educational choices and smart credit card strategies for maximizing savings, making college funding less daunting for parents.
AI Snips
Chapters
Transcript
Episode notes
Start Early
- Start college planning early, as it's more complex and expensive than ever.
- Begin by freshman or sophomore year of high school to understand aid eligibility and explore options.
Planning Stages
- Early-stage planning involves saving and investing, while late-stage planning tackles college selection and financial aid.
- Late-stage planning should begin during sophomore or freshman year to maximize aid and scholarship opportunities.
529 Plan Strategy
- Consider saving a reasonable amount in a 529 plan but avoid overfunding due to uncertainties.
- Understand the potential tax implications and penalties for withdrawing unused 529 funds.