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9 fabulous financial aid offers for college

Student Loans » 9 Fabulous Financial Aid Offers For College

University of Alaska College Savings Plan
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University of Alaska College Savings Plan © Gary Whitton/Shutterstock.com

University of Alaska College Savings Plan

The deal: In-state tuition for nonresidents who invest in an Alaska 529 prepaid tuition plan.

For many families, 529 prepaid college savings plans are a smart bet because they offer federal tax-free growth and don't subtract from a student's financial aid package to the extent that funds stored in a traditional savings or checking account do. At the University of Alaska, out-of-state students who invest in the UA College Savings Plan get all the benefits mentioned above, plus $13,000 knocked off their yearly tuition tab.

With the exception of the University of Alaska System, 529 plans rarely qualify investors for in-state tuition. Many plans do, however, offer sweet state tax incentives to plan holders. And a few states such as Arkansas, North Dakota and Kansas will also match some of your investment if your family falls under a certain income threshold.

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