At some point, however, you’ll need to beef up that college savings fund ― even if it means starting late. “If one is getting a late start, that time horizon could be down to single-digit years,” he said. Front-load contributionsWong noted that the maximum a parent can contribute to a 529 plan is currently $15,000 per year, per child. Presently, there are 18 prepaid tuition plans available, though only 11 are currently accepting new applicants. “Prepaid tuition plans can be a great alternative for those that are already within a short time frame to pay for college tuition,” Canning said.

Source: Huffington Post March 11, 2019 09:45 UTC