News & Press: Student Loans

Smart Ways to Mix Student Loans, College Savings

Wednesday, May 22, 2013   (0 Comments)

The 2008 plunge in stock values eroded Phillip Orzech's college savings.

The Connecticut parent's 529 plans, tax-advantaged investment accounts, were primarily comprised of stock-based investments. The accounts, which had held enough to pay for four-year educations for each of his two children, now only covered one year of tuition.

"We had less money saved than we thought there was going to be," he says. "We used what we had to pay everything that we could." He and his wife then borrowed student loans for their children to make up the difference.

For families who will use both student loans and 529 plan savings to pay for college, experts recommend the following.

Click here to read the full article at U.S.News.