Word: prepaid
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...getting better. As you think about year-end tax moves, consider dropping some cash into a state-sponsored plan where money for college grows tax-deferred and may garner a fat state income tax exemption as well. This plan is relatively new and often gets confused with more common prepaid-tuition plans, in which you pay today and attend later--removing worries about higher tuition in the future. Savings plans are vastly different and in most cases superior because they are more flexible...
...Prepaid plans offer tax advantages, and some are portable, but many still apply only to public colleges within the taxpayer's state. What if Junior gets accepted to Harvard? You can get your contributions back. But some states refund only principal, beating you out of years' worth of investment gains. And state prepaid plans make it tougher to get student aid because the money is held in the student's name. With savings plans the money is in a parent's name, where it counts less heavily in student-aid formulas--and you can set aside as much...
...subscribe, users point their Web browsers to http://www.att.com/connectnsave where they can purchase prepaid calling in units of $25, $50, or $100. The only financial catch is a $2 minimum monthly charge...
Once the preserve of business users, mobile phones have become an everyday consumer appliance--even a fashion accessory. Alcatel claims to have taken 10% of the world phone market with a cheap handset available in rainbow colors that appeal to women. The marriage of prepaid calling cards and cheap mobile phones has made markets in Italy, Ireland and Portugal grow nearly 38% a year because there is no subscription fee or phone bill at the end of the month. In Israel some 200,000 units of a phone known as the Mango, which can call only one number, have been...
...determining aid, he reasons. Furthermore, in the year they withdraw from their EIRA, students won't qualify for the other generous programs created by Congress last year: the HOPE scholarship and the Lifetime Learning credit. Nor can money they withdraw from an EIRA be used in conjunction with a prepaid tuition plan. Since EIRAs are not considered retirement funds, they are set up in a child's name, and their value is calculated in the federal formula for financial aid. Result: colleges will take a bigger bite out of the savings...