The Gift That Keeps on Giving: Funding a College Education

January 12, 2017 | Dara Luber

With the rising cost of college education, it’s becoming increasingly important to look ahead and come up with a plan of action to pay for tuition.

Although the earlier you start saving, the better, you can help ease the burden of planning for future college expenses for a child of any age by contributing to a 529 plan this holiday season.

Keep in mind there are a wide variety of 529 plans available (at least one type in every state plus the District of Columbia), with different benefits, rules and restrictions for residents in each state, so it’s important to do a little research before diving in. Savingforcollege.com is a great resource filled with information, including details on different plans and a handy plan comparison tool.

When researching what’s out there, it’s important to remember that 529 plans are typically invested in mutual funds or ETFs, which means there are risks involved just like any other investment. A financial adviser or tax professional can answer specific legal, tax and financial questions, but read the full article on TheStreet for tips designed to help ease the burden of planning for future college expenses for a child of any age.