December 8, 2006, Newsletter Issue #44: Last Minute College Investing
Tip of the Week
If you have put off college investing until the last minute, don't jump right into 529 funds. If your child is in the last years of high school, you need to put your money someplace much more secure than the stock market. Look to bond mutual funds for moderate growth with little risk. If you find that what you're able to save doesn't make much of a dent in you child's college bill, look for other ways to reduce the costs of college. Scholarships are available from a variety of sources from fast food restaurants to bowling associations. Look into financial aid offered by the school. Also look at student grants and loans. If all of these don't add up to the sum you're looking for, consider choosing a less expensive college or starting off at a junior college with the intention to transfer to the dream college when it is more realistic.
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