Recent editorials published in Nebraska newspapers
Omaha World Herald. June 9, 2019
State pursues new ideas to promote college savings plans, educational progress
Nebraska needs all its children, from every background, to maximize...
Here’s how Washington’s 2 college savings plans stand
SPOKANE, Wash. (AP) — The state's new DreamAhead savings program for education expenses has nearly a billion dollars in it, most of it a result of transfers from accounts in another state plan, the Guaranteed Education Tuition program.
The Spokesman-Review reports that lawmakers were told recently that more than a quarter of the accounts in GET were closed this year and the value of units in those accounts transferred to the new program.
College savings plan accounts breached, $1.4 million taken
HARTFORD, Conn. (AP) — State Treasurer Denise Nappier announced Wednesday that 21 Connecticut Higher Education Trust college savings accounts were recently breached, resulting in more than $1.4 million in unauthorized withdrawals.
LANSING, Mich. (AP) — Gov. Rick Snyder is checking on the legality of allowing Michigan's 529 college savings plans to be used to cover private K-12 tuition costs.
The federal tax cut enacted last year includes the expansion of eligible expenses for such savings plans, so private K-12 tuition is included. But the Michigan Constitution prohibits direct or indirect public aid to any non-public school.
LITTLE ROCK, Ark. (AP) — The budget for the Arkansas state treasurer's office has stalled in the Legislature over a dispute about efforts to allow taxpayers with 529 college savings plans to withdraw funds for education expenses at public, private and religious K-12 schools.
Michael Aloi / How a 529 plan can be a Fairfield parent’s best friend
The 529 College Savings Plan just got a face lift. What is a great way to save for college now is also a great way to save for prep school. First a refresher. With a 529 plan, a parent — or family member such as a grandparent — funds a savings account with after-tax money (no federal tax deduction up front) and all the earnings on the account accumulate tax-free, assuming they are used for qualified expenses such as tuition, certain fees, room and board, etc.
Illinois Treasurer warns of college savings tax penalties
SPRINGFIELD, Ill. (AP) — Families in Illinois that have college savings plans won't get a break on their state taxes if they use those accounts to pay for private K-12 tuition, Illinois Treasurer Mike Frerichs said.
Frerichs warned Thursday that families with Bright Start or Bright Directions college savings plans who attempt to claim a private tuition deduction could potentially face a tax penalty from the state.
GOP plan expands college savings plans to cover K-12 costs
A late amendment to the Republicans' tax overhaul plan would allow parents to put money they save for their children's college costs toward K-12 education, including private school tuition and homeschool expenses, in a proposal hailed as a win by school choice supporters.
The Senate plan would expand 529 education savings accounts that have been restricted to college tuition and expenses.
Nebraska college savings plan to hold scholarship drawing
LINCOLN, Neb. (AP) — Nebraska grandparents are being invited to participate in a contest that could help them provide for their grandchildren's college costs.
The NEST 529 College Savings Plan and First National Bank of Omaha will celebrate National Grandparents Day on Sunday with the kickoff of the annual Dear Grandchild scholarship drawing.
Participating grandparents write letters of no more than 500 words to their young loved ones expressing their hopes and the importance of higher education.
Julie Jason: The time to look at the cost of college
Everyone needs a college funding plan.
The average cost of tuition and fees for the 2016-2017 school year was $33,480 for private colleges ($9,650 for public colleges), according to the College Savings Plans Network. That does not include room and board and all the other costs that go into having a college experience.
Elementary students can get free school supplies through statewide college readiness program
Every elementary school in the state can order free school supplies as the Oregon College Savings Plan’s school-based outreach program goes statewide to share the benefits of saving for college early on with young families.
As part of the Be College Ready program, elementary school teachers and staff can order free homework folders, pencils and bookmarks for every student. Also part of the program, schools will be asked to distribute information to parents about funding higher education expenses.
NEST college savings plan assets at record $4.5 billion
LINCOLN, Neb. (AP) — The Nebraska State Treasurer's office says assets of the NEST college savings plan have reached a record $4.5 billion.
State Treasurer Don Stenberg says the state-sponsored 529 college savings program hit the mark as of June 30. The program maintains more than 252,000 active accounts across the country, and 76,000 of those are owned by Nebraskans.
Millennials start college funds earlier than boomers
Many millennials who know the burdens of student debt could be aiming to treat college savings a bit differently from their parents.
Liz Weston: 4 tax hacks you might not know
You know to contribute enough to your 401(k) to get the full company match. Maybe you've even adjusted your withholding so you're not giving Uncle Sam an interest-free loan.
Yet you may feel the need to do even more, especially if you're making the last big push toward retirement. These hacks allow you to shelter more money from taxes now and when you retire. They include:
More parents planning, saving for college
With the headlines in recent years focused on the rising costs of higher education, a new report from the student loan company, Sallie Mae, offers some encouraging news. The recently released study shows more parents are saving for their children to attend college – and in higher amounts.
Giving the gift of financial well-being at the holidays
Instead of the latest toy or gadget, some people are trying to give their loved ones more financial security this holiday season.
While it's long been possible to hand out cash, buy stock or contribute to college savings plans, financial institutions and retailers are making it easier to bestow a gift with lasting value.
- Business WireCollegeAdvantage Reaches Another New MilestoneJuly 26, 2019
- Business WireColumbia Threadneedle Investments Extends Contract as Manager for South Carolina's Future Scholar 529 PlanJuly 17, 2019
- Business WireBusted: Four Common Myths about 529 College Savings PlansMay 28, 2019
- BusinessWireFirst National Bank of Omaha Brings Updates, Enhancements to State Farm® 529 Savings PlanAugust 7, 2018
- BusinessWireNEST 529 College Savings Plans Offer New Options for Account OwnersJuly 30, 2018