Educational Savings Accounts When it comes to getting a college education, financing is one of the most important considerations that you will need to make. Unfortunately for far too many it is one the last considerations that is made when it comes to the educations of our child The most common is to begin by opening up an educational savings account for your child (under the age of 18). When you open up an educational savings account for your child, you can contribute up to $2,000 per year per child. This is a combined tota Educational expenses in this case include books, tuition, fees, supplies, and college room and board provided that your child is at least a part-time student. If you do not use all the funds for your child there are options as far as what to do with The money you set aside in these accounts to cover the cost of the education of your child or children is not tax-deductible however, it is a great way to begin saving money and investing in the future of your child. I
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