Ask for Help
Invite friends and family to help build your child’s account.
Plan contributions are a great alternative to traditional holiday and birthday gifts.
Family members may be a good source of assistance when it comes to reaching your college savings goal. They can open an account or contribute to an existing account. And, their contributions may be eligible for estate and gift tax benefits.
And remember, most families do not save 100% of college costs. In addition to what you contribute to financing a college education through your 529 plan, there are other sources of financial aid, such as grant aid, education tax credits and deductions, federal loans, and Federal Work Study aid1.
1Table 1. Total Student Aid and Nonfederal Loans Used to Finance Postsecondary Education Expenses in Constant (2008) Dollars (in Millions), 1998-99 to 2008-2009 Trends in Student Aid, 2009, The College Board, 2009-10
