Award-Winning Site Offers Tools and Resources to Help Families
Start Saving for College
RESTON, Va., Sept. 8 /PRNewswire/ -- It is never too early for parents of
future college students to begin saving for higher education. September is
College Savings Month, and wiredscholar.com, Sallie Mae's award-winning
planning and paying-for-college Web site, has tools and resources for students
and their families to help offset the cost of a college degree.
One option for families is a tax-exempt (or tax-deferred) state college
savings program (Section 529 plan). These plans, which are available in all 50
states and the District of Columbia, allow families to either save money in a
special college savings account or use a prepaid plan that allows investors to
purchase tomorrow's tuition at today's prices. Both options offer benefits
such as tax-free earnings, multiple investment options and owner control.
Through wiredscholar.com, families can evaluate these programs and get
objective information on various savings plan options. Specifically,
wiredscholar.com offers "5-Cap Ratings" a system developed by John F. Hurley,
certified public accountant, that rates state college savings plans on a
variety of factors including overall usefulness, flexibility, liquidity and
availability and state tax benefits. Additionally, families can compare state
programs and their resident and non-resident participation.
"These programs can be excellent tools for families that are able to
participate in them early," said David Cooper, managing director for
wiredscholar.com. "Starting when the child is young can yield significant
returns and help families better deal with the cost once it is time to pay
tuition to a college or university."
To further assist families in creating a savings strategy,
wiredscholar.com also offers a variety of savings calculators to help families
assess their current economic condition and plan for college.
Additionally, wiredscholar.com has information on special government
incentive programs and tax credits and deductions that can be used to help
with the cost of higher education. To learn about these programs, state
college savings plans and more, please visit http://www.wiredscholar.com.
About wiredscholar.com
Wiredscholar.com is the foremost online resource for "planning-for-
college" information for students, parents and guidance professionals.
Launched in spring 2000, the site is the most comprehensive and objective
resource on the Web for information and interactive tools to assist with
college preparation, evaluation, selection, application and financing, all in
one online location. The site is a four-time "Forbes Favorite" in the college-
planning category in Forbes.com's "Best of the Web." Wiredscholar.com is an
independent brand of Sallie Mae, the nation's largest source of education
funding, which extends the company's commitment to helping students achieve a
higher education. For more information, visit http://www.wiredscholar.com.
SOURCE wiredscholar.com
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Related links:
http://www.wiredscholar.com
Company News On-Call:
http://www.prnewswire.com/comp/147826.html
CONTACT:
Jemarion Jones, +1-703-810-5637,
jemarion.jones@slma.com, for wiredscholar.com
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