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Updated: 7:15 PM Jul 14, 2008
Saving For College
WTAP News Building a fund for your childrens' college education could also give you a break on your taxes.
Posted: 6:54 PM Jul 14, 2008Reporter: Todd Baucher Email Address: todd.baucher@wtap.com |
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State Treasurer John Perdue says not enough West Virginians know about a plan that can help them save money for their childrens' college education.
Perdue was in Parkersburg Monday to explain the "Smart 529" plan...in which parents can invest, and which also gives them a dollar for dollar tax break.
25,000 state residents currently have set up investments in the seven-year-old plan.
"And they realize they don't miss it after (they've invested for) a certain period of time. It doesn't take long for a child to grow up, and all of a sudden they're in college, that they have a nest egg to take care of all the college expenses they couldn't afford any other way."
The funds can be used, along with scholarship money, at any public or private college, regardless of whether or not that institution is located in the Mountain State.
For more information, click on our "Hot Button".
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