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Education Funding (Tax Advantaged Plans for Education Savings (529 Savings…

- - - - UlTiMAtely more options
- - - - 10% of income with debt forgiveness after 20 years
    - - 10-15% of discretionary income
    - - Higher percentage of income
        
        20% of income and forgiveness after 25 years
- - - - Less any subsidized amounts recieved for the same period #
  - - - Financial need not required
      - Student must be enrolled at least half time
      - Borrower can not have a negative credit history
      - Borrower is responsible for all interest
      - Maximum amount is cost of attendance minus any other financial aid student receives.
      - Higher Interest and huge origination fee
- - - - 20% of up to $10,000 in qualified expenses per year
      - Maximum lifetime learning credit per FAMILY is $2,000
      - Unlimited number of years can be claimed
  - - - 100% of first $2,000 in qualified expenses
      - 25% of second $2,000 in qualified expenses
      - Maximum PER STUDENT is $2,500 per year
- - - - Undergraduate
        
        $5,500 loan
        
        May not exceed $27,500
      - Graduate and Professional Student
        
        $8,000
        
        May not exceed $60,000 (including amount borrowed as undergrad)
    - - $5,920