Teaching your children to be financially responsible is one of life’s critical lessons. As your children mature, you will have many opportunities to teach them about good financial management, from kindergarten to adulthood.
If you’re a New Jersey taxpayer or the student in your life is a New Jersey resident, you can take advantage of these features to help you save money when investing for education with the Franklin Templeton 529 College Savings Plan, offered nationwide by the New Jersey Higher Education Student Assistance Authority.
The complex financial aid process can make it difficult to understand how financial aid is calculated, so often people make poor financial decisions, which negatively impact both the amount they save and their financial aid award. The following helps explain the financial aid formula, including how income and different savings vehicles can affect financial aid awards.
As your child takes the first steps toward the future, it’s important that you take the first steps toward seeing that a college education will be a part of it. Franklin Templeton 529 College Savings Plan, offered nationwide by the New Jersey Higher Education Student Assistance Authority, is a great place to begin.