Category Archives: Education Planning (교육자금 플랜)

Test your knowledge in financial aid

Many people think parents' assets greatly affect their children's chance of getting financial aid. While it may be true in general, not all assets are treated equal. For instance, monies in parents' retirement accounts and primary home equity do not influence amount of financial aid in FAFSA (Free Application for Federal Student Aid), which most…
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529 Account

 A 529 account is for education savings for college or higher . There are two types of 529 plan: 529 Prepaid College Tuition and 529 College Savings Plan.  The Prepaid plan is run by individual colleges and used to pay tuition at today's cost for children who'd attend in the future. Because this plan is…
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Coverdell ESA (Education Savings Account)

Coverdell ESA is an education savings plan that is designed to pay for qualified education from kindergarten to college and above with more investment options. Followings are characteristics of Coverdell ESA compared to 529 education savings plan. Funds in Coverdell plan can be used for primary education such as private elementary and high schools, unlike…
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