More than half of college attendees in the US take out student loans. Imagine saving your kids from the financial burden of student loans without being super-rich. It’s possible with a 529 plan. In this episode, I talk about 529 plans, how they work and why they’re a smart way to save for you kids’ college education.

In today’s episode, you'll find out:

What a 529 plan is
The two types of 529 plans to consider
How to save your kids from the burden of student loans
How much to save each month to pay for your kids’ college
What is a UTMA/UGMA account
What tax benefits come with saving with a 529 plan
Tax penalties to watch out for with a 529 plan
What happens to the money if your kid doesn’t go to college
What is the rule of 72 and how it can double your savings
Which states allow you to open a 529 plan anywhere
What to do before opening a 529 plan

Full show notes at: http://studentloanplanner.com/110

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Feeling helpless when it comes to your student loans?

Save for Your Kids Education Using a 529 College Savings Plan