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Financial Aid

Susan Tompor: Saving for college? Do homework on 529 plans

Young parents can hear shocking statistics such as that some private schools could cost about $450,000 for four years by the time today's newborn heads to college and give up on saving any money. It's overwhelming to consider that cost of college has tripled in roughly 18 years. But giving up means you're throwing away the chance to accumulate a respectable stash of cash. Every dollar can count if your child goes to a private school or state college. About 17 percent of families used 529 plans to pay for college in 2014-15 school year, up from 15 percent the year before, according to the newly released, "2015 How America Pays for College," published by Sallie...

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