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529 college investment plan to remain tax-free for good PDF Print E-mail
Written by Alex Masurovsky, Tufts Daily (Tufts U)   

(U-WIRE) MEDFORD, Mass. - The 529 investment plan, families' weapon of choice for battling college costs, is here to stay.

The 2006 Pension Protection Act, signed into law by President George W. Bush last month, includes provisions ensuring that withdrawals from 529 college investment plans will not be taxed by the federal government.

The 529 plans were until this point fated by "sunset provisions" to lose tax-free status in the year 2010.

Under 529 plans, parents permit the government to entrust their funds with private investment companies, who in turn invest the money in securities. Smart investments on this scale help families grow college funds.

The 529 plans, named for the IRS code that created them, are sponsored by 49 states and the District of Columbia. The plans differ from state to state. Some states offer in-state tax benefits, and each state can offer a variety of different 529 plans with the constant condition that money withdrawn from these accounts cannot be federally taxed if it is to be used to pay for higher education.

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Loan debt accruing interest PDF Print E-mail
Written by Evan Fritschle, Arkansas Traveler (U. Arkansas)   

By Evan Fritschle

Arkansas Traveler (U. Arkansas)

08/23/2006

(U-WIRE) FAYETTEVILLE, Ark. - A college degree is becoming more of a requirement in the modern world, and students are doing whatever it takes to pay for classes, including accruing more debt than ever.

Nearly two-thirds of all four-year college graduates now have student loans, according to Student Debt Alert, a combined project of a number of student public interest research groups.

While loans represent one side of the debt that students have, credit cards are another. Lenders use information on how people have handled financial obligations in the past when determining whether to approve or deny credit.

Credit card applications take about five minutes to fill out online, and companies generally send letters in the mail regarding the status of the application, even if it is denied.

Last Updated ( Monday, 11 September 2006 )
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