What Are Prepaid Tuition Plans?

By Jimmy Hicks / January 18, 2022

Updated on January 17, 2022. Originally posted on May 16, 2019. What is a prepaid tuition plan? A prepaid tuition plan is a type of 529 plan, not to be confused with the savings variety, that allows account holders to lock in future tuition costs at today’s rates. According to Investopedia, “Timing and age [are]…

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The American Opportunity Tax Credit: “The Tax Scholarship”

By Jimmy Hicks / July 13, 2021

Origin of the American Opportunity Tax Credit The American Opportunity Tax Credit, proposed by President Barack Obama and passed by Congress in 2009 to replace the Hope Credit, became a permanent education tax credit with the passage of the PATH Act of 2015. How Does the American Opportunity Tax Credit Work? Per the IRS, for…

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Saving for College Before Your Baby Is Born

By Jimmy Hicks / January 29, 2021

With the costs of higher education constantly rising, it is more important than ever that parents start saving as early as possible. So, when is the right time to start? Today! Ok, but how do we start? Contrary to what you may think there are lots of ways to start accumulating college savings on a…

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College Funding for Newlyweds

By Jimmy Hicks / March 19, 2020

How do we plan for an educational expense that may or may not happen at some point in the future? My fiancé and I are getting married soon and are planning to have children someday. A controversial question we are facing right now is this one: “Is it too early to start saving for college?”…

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Stuck in the Middle: How Roth IRAs Can Be Used for College Funding

By Jimmy Hicks / November 8, 2019

Roth IRAs and the FAFSA When it comes to college funding, most families seem to be “in the middle.” They aren’t wealthy enough where college funding isn’t a concern and at the same time, they aren’t poor enough where the government will help pay for most, if not all, of their children’s college education. Being…

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