Military Makeover field correspondent Art Edmonds sits down with Ryan White from Columbia Management to talk about today’s college landscape, and get a better understanding of 529 College Savings Plans. College costs continue to rise, and show no signs of slowing down. Additionally, financial aid has been coming more and more in the form of loans, so students are graduating with thousands of dollars of debt.
A 529 college savings plan is a tax-advantaged investment that was designed to help families save for the important goal of a college education. Money saved in a 529 plan can be used for a number of eligible college expenses, and can be used at any eligible institution in the U.S. as well as some international schools. Based on this definition, Ryan is able to answer questions from Art about saving for college.