The cost of college continues to rise dramatically and parents need to start saving for their children as early as pre-school, says John Hupalo, co-author of Plan and Finance Your Family's College Dreams. Hupalo says not all aid is equal, and parents seeking to maximize financial aid for their children need to understand exactly what is being offered. In his view the 529 Plan offers the best opportunity to make college affordable because of their tax incentives and lack of income limits. Parents need to start saving for college as early as possible in his opinion due to the time value of compounding interest. Finally, he said parents and their college-bound kids need to shop for the school that provides the best bang for the buck.
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