INVESTING FOR BABY BRILLIANT’S EDUCATION
Children grow up fast and the costs of higher education seem to rise even faster. Begin planning early to build the education nest egg you will need when the hand that clutches the rattle today holds a high school diploma and needs tuition money. You can use the techniques learned about savings in general to help determine how to invest for this particular goal – remember that compound interest is your friend and that time is the best tool for creating wealth.

Smart Saving for College—Better Buy Degrees (FINRA)
This guide from FINRA gives you the information you need to wisely save and invest for college.

College Savings Resources (FINRA INVESTMENT CHOICES)
Learn about Section 529 Plans and other college savings options through these FINRA approved resources.

College Funding
This site provides up-to-date information on relevant college funding methods.

Consumer Focus: Making the Grade - Financial Aid for College
This site provides links to consumer information about many aspects of higher education, including how to fund it.

Financial Aid Center
This is a good site for information about how to finance your education and/or career training.

Ohio College Access Portal
Ohio College Access Portal is a one-stop website for students, parents and adult learners to find the information they need “to prepare for and attend college in Ohio, continue their education or find educational programs and information to assist with career goals. “

529 Plans vs. Other College Savings Options
The 360 Degrees of Financial Literacy Web site offers an overview of all options for financing college costs.

College Savings Plans Comparison Chart
This chart from The Motley Fool web site provides a comparison of funding options.

College-Savings Superpage
This site helps potential investors break down college-savings options into two categories: investment options and tax breaks so they can determine the most advantageous course to follow.

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FINANCIAL AID SITES

101 TOP College, University, and Scholarship Web Sites
This comprehensive site provides lots of links to information on scholarships and financial aid.

Federal Student Aid FAFSA
This is the first site to visit when beginning to look for financial aid. Includes an online submission form with necessary documents, deadlines, eligibility, and general student aid information for college students.

FastWeb
This is one of the oldest and largest of the online scholarship sites.

FinAid! The SmartStudent Guide to Financial Aid
Everything you ever wanted to know about college financial aid & more! This site is a comprehensive source of student financial aid information, advice and tools.

Financial Aid
Students and their families are expected to contribute to the cost of college to the extent that they're able. If your family is unable to contribute the entire cost, financial aid is available to bridge the gap. This site from the College Board provides additional information about how to locate financial aid.

Parent and Student Financial Aid Resource Center
This site offers a guide to financial aid and scholarships for college as well as information about student/parent loans, Stafford, PLUS, and Perkins loans, and more.

Scholarship Help
Get the facts about scholarships as well as the best advice we can offer about how to succeed in winning scholarships.

Scholarship Search
This online tool from the College Board can help you locate scholarships, internships, grants, and loans that match your education level, talents, and background.

FedMoney
FedMoney.org is the most comprehensive FREE full-text online resource on all U.S. government grants and student financial aid programs. Here you will find detailed and up-to-date information about (1) who can apply, (2) how to apply, (3) full contact info, and much more... for over 130 government grants and loans (scholarships, fellowships, traineeships) related to education!

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529 PLANS

529 College Savings Plans, tax-free funds made possible by laws passed in 2002 and are authorized by Section 529 of the Internal Revenue Code, are popular options to meet the growing cost of college. States, state agencies, or educational institutions sponsor 529 plans and there are two types of plans: pre-paid tuition plans and college savings plans. Investments in a 529 savings plan grow tax-free as long as the money is used to pay for qualified higher-education expenses (tuition, fees, books, supplies, and room and board). While contributions to the 529 are not federally tax-deductible, some states permit a partial or complete state tax deduction to residents.

Frequently Asked Questions about 529 College Savings Plans (FINRA INVESTMENT CHOICES)
529 College Saving Plans are designed to help investors save for the cost of college and other postsecondary school education. When established by states, 529 Plans are considered municipal securities and so must comply with rules issued by the Municipal Securities Rulemaking Board. Here are some commonly-asked questions about these securities.

Did You Know?
This site provides facts and dispels common misconceptions about 529 plans as well as providing information about the value of an education and financing a college degree.

About 529 Savings Plans
This is a clear, straightforward basic description of how 529 savings plans work.

School Yourself Before You Invest (FINRA)
We all want to get our money's worth. This is true when it comes to paying for a college education — but it's also true when it comes to investing for higher education.  Section 529 college savings plans are a popular investment vehicle for saving for college. While there is no shortage of plans to choose from, select with care! Virtually no two plans are the same. Doing your 529 homework is essential.  Learn more….

Compare College 529 savings plan
This site provides information about the way 520 savings plans work in all 50 states.

529 Plan Expense Analyzer (FINRA)
Most investments have fees and expenses that are paid by the investor and 529 Plans are no different.  These fees and expenses can vary widely from plan to plan. Use this FINRA calculator to help you compare how these fees and expenses can reduce returns.

Consumer Focus: The 529 Plan and How It Works
This is a consumer-oriented overview of the 529 savings plan options.

How 529 Plans Work
Here is a comprehensive explanation of 529 plans for education savings.

Introduction to 529 Plans
The Securities and Exchange Commission provides this overview and comparison of 529 plans.

Morningstar 529 Plan Overview
This site provides independent, professional analysis of all 529 plans available for investing potential education funds.

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COVERDELL EDUCATION SAVINGS ACCOUNTS
The Coverdell Education Savings Account  (formerly Education IRA) was created to provide a method to save for a child's education (both elementary/secondary education (k-12) and post-secondary education (college, graduate school, vocational school, etc.). A Coverdell account may be established for any child under age 18. All earnings in the account accumulate on a tax-deferred basis and can be withdrawn from the account tax-free if used to pay for qualified education expenses.

Coverdell Accounts
Overview of Coverdell accounts from Adventures in Education.

Coverdell Education Savings Account
An overview of the rules about Coverdell accounts.

Coverdell Education Savings Accounts
FinAid offers a description of the Coverdell Education Savings Accounts.

Coverdell Education Savings Accounts  (FINRA)
FINRA explains the Coverdell Education Savings Account.

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COLLEGE CALCULATORS

College Calculator (FINRA)
Use this calculator to determine the amount you need to invest each year to ensure that you will have enough to cover your child's college costs.

Calculate how much you'll need to save for college
“This tool will tell you three things: how much money will need for college; how much you will have based on your current savings rate; and how to adjust your plan to pay for four years of college.”

Calculators
FinAid's custom calculators can help you figure out how much school will cost, how much you need to save and how much aid you'll need.

College Cost Calculator
“The College Cost Calculator is designed to help you estimate how much college may cost when your student is ready to enroll.”

College Cost Calculator
Use this calculator from the College Board to see how much college will cost by the time you enroll. 

College Savings Calculator

Ohio College Access Network: College Cost Comparison Tool
This site provides a Total College Cost Report for one college as well as allowing you to compare the cost of up to three colleges at once.

Simple College Cost Calculator
You can use this simple college cost calculator from money-zine.com to estimate how much it will cost to attend college at a future point in time.

What will college run you?
CNN Money’s site provides a tool to help you find the annual costs of any four-year college or university in the United States.

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TAX CREDITS FOR EDUCATION

College Tuition Tax Credits
Explanation from the College Board of two tuition tax credit programs, Hope and Lifetime Learning, to help pay for higher education costs.

Education Credits
Information from the IRS about the Hope Credit and the Lifetime Learning Credit, education credits you can subtract in full from the federal income tax, not just deduct from taxable income.

Education Tax Benefits
This site describes several tax benefits for educational expenses.

Education Tax Benefit Coordination
This site discusses various education funding options and how to co-ordinate the tax implications of these options.

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This program is made possible by a grant from the FINRA Investor Education Foundation through Smart Investing @ your library®, a partnership with the American Library Association. The PLYMC has formed  local partnerships with the following community agencies to promote financial literacy initiatives especially to young families: Youngstown/Mahoning Valley United Way, Mahoning County  Financial Stability Partnership, Mahoning/Youngstown Community Action Partnership (MYCAP), Junior Achievement of Mahoning Valley, Inc., Mahoning County Coalition for Community Reinvestment, Child Care Connection, Youngstown Metropolitan Housing Authority, Youngstown Economic Development Office, WFMJ-TV 21, WKBN-TV-27, and WYTV-TV -33.