The Wall Street Journal has an interactive community where users can ask questions or share advice on a given topic. This week, the Journal Community is discussing the best way to pay for college. Feel free to share your tips here on SCHEV’s blog, or visit the WSJ website to see what their readers have to say.
Posts Tagged ‘saving’
Beginning December 1, the Virginia Prepaid Education Program (known as VPEP) is offering open enrollment for new participants. The enrollment period, which lasts through March 31, 2010, means that VPEP contracts are available for newborns through 9th-graders, as long as the child or the account owner is a Virginia resident at the time the contract is purchased.
The contracts are priced according to the beneficiaries’ age and the number of contract years purchased. For example, a year of prepaid in-state tuition and mandatory fees for a four-year public college for a newborn will cost $11,878. For high school freshmen, the lump-sum payment for one year is $11,083. VPEP contract benefits may also be used toward tuition and fees at most technical schools and public and private universities worldwide.
This year marks the first time for an increased state income tax deduction that makes Virginia taxpayers who save for higher education in any Virginia 529 program eligible for a tax deduction of up to $4,000 per account each year.
For more information, please visit the Virginia College Savings Plan website.
College students spend between $700 and $1,000 on new and used textbooks each year, according to the Student Public Interest Research Groups. If you are one of the many students looking for ways to economize on textbooks this year, we have good news. The college textbook market, which has long been derided for producing expensive textbook bundles with low resale values, may finally be exploring low cost alternatives for students.
In a recent column, Steve Rosen outlines how the Higher Education Opportunity Act requires publishers to “unbundle” textbook packages so that students can buy just the book or supplementary materials they need. The new law, which will take effect in July 2010, also requires publishers to disclose the price of textbooks to professors so they can make informed choices when selecting materials for their classes.
But some folks in higher ed aren’t waiting for the legislation to take effect. Check out this article in the New York Times about an economics professor at Cal Tech who is so fed up with shady textbook selling practices that he is putting his introductory economics textbook online for students and professors to download for free. The article goes on to list several online textbook repositories that permit the sharing of course materials.
Have you found other ways to get around high prices at your campus bookstore? Share your suggestions with us by clicking on the “Comments” button.