By Maura Schauss, CFP®
Have you heard? Right now, Americans owe over $1.5 trillion in student debt. Studies have found that this debt burden is not only preventing young people from financial moves like saving for retirement or buying a home or car, but it is causing them to delay marriage, parenthood, and entrepreneurship as well.
It can be empowering to take actions right in your own home to set the right course for your family’s education savings. You can start saving for your own kids’ education so that they do not end up saddled with spirit-crushing debt along with their diploma.
Every year on the 29th of May, we take some time to talk about the 529 Plan, named for Section 529 of the Internal Revenue Code which establishes one of the best ways for you to save for college.