Developing a financial plan to pay for the cost of college can be hard and there are a lot of possibilities to consider.
A CollegeChoice 529 direct savings plan is one effective option we have here in Indiana. These accounts can be started with only $10 and provide a number of portfolio options to choose from. You can pick the plan that works best for your timing, risk tolerance and investment style criteria.
Money saved in 529 accounts is tax exempt and can be used for a number of higher education expenses, including tuition, housing and textbooks. Additionally, other family members and friends can make contributions to the account, allowing even more money to be saved.
Recently, I supported Senate Bill 412, which would prevent funds in CollegeChoice 529 plans from being a factor in determining eligibility for financial aid or public assistance programs like Medicaid. If passed into law, this bill would make it easier for families to start saving and preparing for college early.
You can learn more and enroll in a CollegeChoice 529 savings plan at www.collegechoicedirect.com.
State Rep. David Frizzell
House District 93