Education Planning

National Guard Family Program
Soldier with child riding piggyback Introduction to Personal Finance

An Overview for State Family Program Directors, Wing Family Program Coordinators, and Families.

 

Introduction

Evaluating Your Situation

Budgeting & Debt Management

Goals & Plans

Insurance & Disability Planning

Investment Planning

Education Planning

Retirement Planning

Estate Planning

 

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EDUCATION PLANNING

 

6.

Montgomery GI Bill

 

6.1

Planning for Your Child’s Education

  

6.1.1

Personal Investing

6.1.2

Prepaid Tuition Plans

6.1.3

Loans

6.1.4

College Options through Life Insurance

6.1.5

Educational Tax Credits

6.2

Learning Check

 

6.1.5 Educational Tax Credits

If you already have children in college, see if you can make use of

the Hope Scholarship and/or Lifetime Learning Credits on your federal

income tax return. The Hope Scholarship Credit is available for a student’s

first two years of post-secondary education.

Students must be enrolled at least half-time to qualify.

The Lifetime Learning Credit can be used for courses to acquire or

improve job skills, as well as for undergraduate and graduate level

courses at an eligible educational institution.

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