#43188 - 04/26/08 10:09 AM
Prepay Private High School w/Coverdale
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Exit 105
Registered: 07/23/06
Posts: 6
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My sons are in 1st grade and pre-k, respectively, and I have been saving for college through 529's since they were each born. In addition, they both attend catholic grammar school and will most likely eventually attend a private high school. I have been saving for their high school tuition in a Coverdale account and know that in 2010 the benefit of paying for K-12 tuition with a Coverdale comes to an end. I was wondering if it is possible in 2010 to prepay, or partially prepay, for their future private high school tuition with the funds accumulated in their Coverdale account. Assuming the school allows for it - which they do - would the Coverdale rules and regs prohibit this strategy?
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#43189 - 04/26/08 10:43 AM
Re: Prepay Private High School w/Coverdale
[Re: Exit 105]
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Joe Hurley
Registered: 01/07/00
Posts: 2080
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I don't know of anything that would prohibit that strategy. Strikes me as being an excellent idea.
Joe
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#43219 - 05/01/08 11:58 PM
Re: Prepay Private High School w/Coverdale
[Re: Joe Hurley]
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itstoomuch
Registered: 01/01/06
Posts: 757
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I would like to add this experience. When our S was a rising sophomore in HS (1998), we let him go on a "People-to-People" which cost ~$3-4000. At the time I lamented the fact that I had to sell some of his UTMA at a substantial LT gain. I don't think ESA's were around then, if it was we didn't have much in it. By the end of 2000, I was glad I has sold this particular MF because, it was one of those funds that was in technology and dotcoms.
Using 529's to the exclusion of UGMA's and ESA's can limit your ability to fund education and experiences that could enhance the college admission and experience.
Edited by itstoomuch (05/01/08 11:59 PM)
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#43297 - 05/10/08 07:53 AM
Re: Prepay Private High School w/Coverdale
[Re: itstoomuch]
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dallasdude
Registered: 05/10/08
Posts: 6
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I have one son who went to a parochial high school (grade school too)and it paid off in that he is graduating next year as a chem engineer. Books, tuition, room, and board were scholarship paid. That was a great investment and I hope he doesn't decide to go to medical school. Because were going to have enough to handle with putting his brother (who opted to go to a public HS) through college. Not saying that a private education would have given the same results. Unfortunately the wonderful programs (college savings)weren't there years ago. In any case good luck and God Bless.
Edited by dallasdude (05/10/08 07:55 AM)
Edit Reason: spelling/old people
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