More than half of college attendees in the US take out student loans. Imagine saving your kids from the financial burden of student loans without being super-rich. It's possible with a 529 plan. In this episode, I talk about 529 plans, how they work and why they're a smart way to save for you kids' college education.

In today's episode, you'll find out:

• What a 529 plan is
• The two types of 529 plans to consider
• How to save your kids from the burden of student loans
• How much to save each month to pay for your kids' college
• What is a UTMA/UGMA account
• What tax benefits come with saving with a 529 plan
• Tax penalties to watch out for with a 529 plan
• What happens to the money if your kid doesn't go to college
• What is the rule of 72 and how it can double your savings
• Which states allow you to open a 529 plan anywhere
• What to do before opening a 529 plan

Full show notes at: http://studentloanplanner.com/110

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