3 Ways to Reduce the Cost of College

The cost of college continues to rise - we have 3 tips for reducing the cost of it.

  1. Choose an accelerated degree program. If the student plans to pursue an undergraduate degree and a graduate degree, choosing an accelerated program that allows the student to earn both degrees in five years may reduce the time spent in college and the tuition you pay.
  2. Choose federal student loans before private loans. Federal loans typically offer lower fixed interest rates and more favorable terms.
  3. Take advantage of education tax breaks. The American Opportunity Tax Credit has the potential to put the most money (up to $2,500 per eligible student) back in your pocket for college expenses you pay. To claim the full credit, your modified adjusted gross income must be $80,000 or less ($160,000 or less if you are married and file a joint tax return).

Need assistance with your financial education planning? Contact Copper Leaf Financial. With offices in Rutland and Williston, Vermont we develop a customized wealth management plan designed to integrate every aspect of your financial life. Call us today at 802.878.2731 to schedule a strategy session and begin building your road map to financial success.

Article published in January 2020 edition of Eye on Money. If you would like to be added to our mail list please email jennifer@dh-cpa.com.