College Resources & News from CFNC
When Kate opened an NC 529 Account for the first of her four children, she was still paying off her own school loans from undergraduate and law school. She had been the first in her family to go to college and she scrimped, saved, and worked all the way through school and still came out with a sizable 10-year loan that she eventually refinanced into a 20-year loan.
There are optimists and there are pessimists. There are leaders and there are followers. And in the world of economics, there are savers and there are spenders.
Picture this. Your child strides confidently across the stage at their high school graduation, shakes the principal’s hand, and receives their much-anticipated diploma. Now, imagine being able to celebrate your graduate’s success by handing them money to put towards higher education expenses.
State Employee’s Credit Union (SECU) is increasing the rate paid on the Federally-Insured Deposit Account (FIDA) from 1.5% to 1.75%. This is one of the best rates on a federally insured investment option in a 529 we have seen thus far!
The bottom line is: If you’re a North Carolina taxpayer, check with a qualified tax advisor before using your NC 529 funds for K-12 tuition expenses or before rolling over to a 529 ABLE account. North Carolina has not yet expanded state tax law to correspond to the recent federal changes.
How do you picture your little one’s future? Bustling around a hospital saving lives? Reporting on the nightly news? Being a professional athlete?
Crawlers raced to the finish line during the pre-game show at the UNC vs. N.C. State men’s basketball game on January 27th. Six babies went head-to-head during the second Diapers to Dorms Dash in hopes of winning some college cash. As Ramses cheered on the babies, it was one-year-old Austin Tillman who was first to cross the finish line.
From reading bedtime stories and stacking blocks to opening a college savings account, like an NC 529 Account, parents begin preparing their children for higher education almost as soon as they are born. That’s why the Diapers to Dorms Dash that was held on December 30, 2017, was such a wonderful fit for the NC 529 Plan.
Not sure what to give as a gift this holiday season? Make a contribution to a college savings account. Friends and family can contribute as little as $25 to a student’s NC 529 Account. The contribution is a meaningful gift that keeps on giving.
From baby’s first teetering steps until your child strides across the high school graduation stage, you’re focused on the future. You read stories and do homework to support their education.