The FIRE Family’s Guide to Paying for College (With Huge Tax Savings)

BiggerPockets MoneyMay 9, 202546m 55s2.8K viewsScore 75
Regulations & Compliance
intermediate
529 plan
college savings
financial aid
tax advantages
UTMA account
M

Summary

AI-generated

This episode explores strategies for funding children's college education, focusing on tax-advantaged accounts like 529 plans and UTMA accounts. Hosts discuss how assets are weighed for financial aid, the benefits and drawbacks of different savings vehicles, and personalized approaches to college funding.

Key insights

  • Assets held in the child's name (e.g., UTMA accounts) are weighed more heavily than assets held by the parents when determining eligibility for financial aid.

Mistakes to avoid

  • Do not fraudulently report assets or income on the FAFSA to try and qualify for more aid.

Tools & resources

  • Baselanetool

    All-in-one banking and financial platform specifically for real estate investors, automating rent collection and using AI for bookkeeping.

Frequently Asked Questions

Curated by Learn STR by GoStudioM · Summary & key insights generated by AI · Reviewed by editorial