Chegg.com

Chegg.com not only offers free shipping both ways, after 30 days you can get a full refund for an unopened book, or a 75% refund for a book that you have already used. There are three different types of rental periods: Semester (125 days), Quarter (85 days), and Summer (60 days). If you decide to return a book within 30 days of receiving it they will deduct a $5 shipping fee per book ($10 maximum).

BigWords.com

This site gathers information from various textbook sites and calculates each price as well as the total shipping amount. Its easy-to-use format helps users compare different textbooks costs, and they also offer product and author reviews. Some textbooks are eligible for a refund if they are returned after 30 days, however this varies depending on the seller. There are also special deals so you can get free shipping.

CampusBookRentals.com

There are no shipping fees, and once you receive your textbook you will be provided with a prepaid UPS shipping label. You can rent your book for the Semester (130 days), Quarter (85 days), or Summer (55 days), but they also offer 15 or 30 day extensions. If you return your textbook within 30 days after you order it you will receive a full refund, and if you want to purchase your textbook after renting it they subtract the rental fee off of the cost. However, if you damage or lose your textbook you will be charged for the full value.

BookRenter.com

This is another site that offers free shipping both ways. You have 10 days to return a book after the due date otherwise you will be charged a minimum fee of $10. You will also receive an e-mail or a textbook message to remind you when your book is due, but beware because if you lose or fail to return your textbook you will be charged 140% of the retail price.

Amazon.com

Amazon is a great option for students because they are one of the largest book stores on the Internet, and there is also a section where you can sell your new or used textbooks. There is free shipping for any order over $25, and you are allowed to return unopened items after 30 days but you will be charged for shipping.

TextSwap.com

This site is a “free textbook exchange service” so students can connect with each other and trade textbooks free of cost. First you select the school you are enrolled in, (there are over 50 American schools signed up on the site), and then you can search for a textbook by its name, author, or even course title.

Textbooks.com

There are three different types of rental periods, (60 days, 85 days, or 125 days), but if your semester is longer than 125 days you can get a free extension as long as you provide documentation from your college or university. You can return your book after 30 days and get a refund if you include your packing slip, but there is a return fee of $5 per book (maximum of $10). If you rent a textbook and it is not returned on the due date they will extend your rental by 15 days at no cost, but if you don’t return it after the 15 days you will be charged with a replacement fee.

CollegeBookRenter.com

You can rent books off this site for 60, 90, or 190 days, and you are provided with a prepaid return label upon delivery. If your textbook is not returned on the given due date you will be charged with a 15 day extension fee and you will be notified via e-mail. If you do not return the book after the 15 day “grace period” or if the book is returned damaged you will be charged for the full list price.

BetterWorldBooks.com

This site offers free shipping for anywhere in the U.S., but international shipping costs are approximately $3.97. You can return your books 30 days after purchasing them for a refund, or 45 days if you purchase them internationally, however you will have to pay for shipping. Right now the site is promoting a “Bargain Bin Blowout” which allows users to purchase 5 used books for $15.

BarnesandNoble.com

If you order over $25 in textbooks from this site you will not be charged for shipping, but this does not qualify for rented or used textbooks. You can rent textbooks for 60, 90, or 130 days and you are given the option to extend your rental period if you’re interested. If you don’t return a rental on the given due date they will provide you with a 15 day extension, but if it still isn’t returned after those 15 days they will charge you the full retail price minus the rental cost. The site also offers free return shipping for textbook rentals, and you can get a full refund if you return a book within 21 days of it being delivered to you.

ecampus.com

Shipping costs approximately $3 depending on where you live and how fast you want it shipped to you, and you will also be given a free UPS return shipping label with your textbook. If your order total is more than $59 you could be eligible for free shipping, and if it is over $250 you can choose a “bill me later” option which allows you to pay for your textbooks within 90 days. If you decide to return your book within 30 days after receiving it you will be charged for shipping along with a 10% restocking fee. Also, if your book is not returned by the given due date you will be charged 20% off the list price, and after a week you will be charged for the full listed price.

Half.com

Unlike other textbook websites, the seller of the textbook decides how long you have to return an item to get a refund. Not only that, some sellers may not accept returns at all so pay close attention to the details provided when you order your textbooks. Shipping costs a minimum of $3.49, but if you buy two or more items from the same seller you can get a shipping discount.

ValoreBooks.com

This site has a “Free Textbook Giveaway” so students could be eligible to win free textbooks for a year. Items are refundable 30 days after the purchase date, and you can also sell the textbook back to the site if you choose to. If an item is returned “due to customer error” you could be charged a restocking fee of up to 15% of the total price, but if an item is returned “due to seller error” you will get a full refund. Shipping costs for rentals are free, however this depends on how quickly you want your textbooks delivered to you.

NelsonBrain.com

Formerly known as CencageBrain, this site lets you download the first chapter of the book you ordered for free while you’re waiting for its delivery. There is free shipping for textbook purchase orders over $25, and you can get a full or partial refund 30 days after purchasing your textbook. If you do not return your textbook a week after the due date they will give you an extra week free of charge, and you can extend your rental for up to 130 days. Shipping costs approximately $3.99, and if you damage the book or do not return it a week after the due date you will be charged for the full price.

Bookbyte.com

There is a 14-day “Money Back Guarantee” for all used and new textbooks, (but you will have to pay for shipping). Shipping costs $5.95 if you want your textbooks shipped to you within 3-7 days, and you also have the option of choosing the standard shipping of 5-20 days, which costs $3.65 per book. Users can also research the prices of the textbooks they want via text messaging.

Alibris.com

Standard shipping costs $4.65, but expedited shipping could cost $8.14 or more. There is also a list of items you can get for free if your total purchasing order is more than $57. Heavy books may have additional shipping charges, and if you are not satisfied with the condition of your item you have 60 days to get a refund.

TextbookStop.com

When you order a book off this site you will be provided with a prepaid return shipping label, and you are eligible for a full refund if you return the book 10 days after you received it. If you ordered the wrong book and you have to return it, you will be charged a $10 restocking fee. You also have the option of extending your return date by 15 or 30 days, or even a semester.  If the book has “minor damage” you will be charged a third of the list price, but if it has “major damage” you will be charged the full price. Although delivery costs can be expensive, you could be eligible to receive coupons codes which you can enter to get free shipping.

Ekeggy.com

If you sign up to become a EKeggy member you can get a $5 discount off your textbooks, and they will pay for the shipping if you want to return your book. Shipping costs approximately $2.99, and you can rent textbooks by the semester (125 days), or the summer term (61 days). If you do not return a rental 5 days after its due date you will have to pay a 6% late fee every week until the book is returned.

1. @Fafsahelp – Get tips on everything related to the Free Application for Federal Student Aid (FAFSA), and read up on the latest news concerning student loans and scholarships.

2. @studentloaninfo – This “Student Loan Ninja” updates readers with articles she discovered while surfing the web, all of which discuss student loans and financial tips for students.

3. @BethWalker_CFC –  Beth Walker is a “college funding expert” who posts numerous links to articles each day which provide various tips on scholarships, and how to save and/or apply for college.

4. @Student_Loan_US –  Specifically for college students in America, these links cover the latest in private student loans, the Student Loan Consolidation Program, and politics.

5. @MoneyCollege – These tweets provide links to other articles about student loan horror stories, credit card debt, student employment, and even free music downloads. Users can also send in their own “college financial survival” tips to the author.

6. @CollegeBlogs –  The financial aid guru Lynn O’Shaughnessy discusses the latest in educational and financial news for college students; many of the tweets reference articles published on her blog, the College Solution.

7. @securestudent – Read up on the latest in financial literacy news that is circulating around the web. Some tweets link to articles which provide tips on how students can avoid debt and maintain their bank account balance.

8. @StudentLoanNews – Some of these posts discuss student scams and loan repayment rates, but the majority of the tweets cover the latest political issues and events which are affecting the cost of higher education.

9. @educationmoney – Read up on the most frequently asked questions regarding student loans and bad credit, as well as tips for high school graduates and the latest in educational politics.

10. @GraduateCheap –  These tweets cover numerous scholarship contests and opportunities for low or middle-income families, Pell Grants, and financial aid for minority students and single mothers.

11. @CollegeGamePlan – This humorous twitterer updates followers with articles he found which discuss tips on student debt and taxes, college applications, financial survival, and student loans.

12. @College_Experts – Get advice from college advisers and counselors who provide information on student loan debt, how to get accepted into college, or how to ace your exams.

13. @planettuition – This twitter account provides up-to-date news on financial aid, statistics on student loans and employment, as well as facts on the future of higher education.

14. @DodgeCollege – From textbook rentals and salaries, to college costs and student loan debt, followers of this account get updated on the latest in tuition costs, scholarships, and educational news.

15. @MYFinc –  Learn how to “map your future” and your finances by reading articles on identity theft, tuition costs, how to raise your credit score, and employment after graduation.

16. @nasfaa – From the National Association of Student Financial Aid Administrators (NASFAA), read up on the latest in American politics and how it affects your education.

17. @GradGuard – These tweets cover numerous complex issues every college student should be aware of, such as tuition and renters insurance, refund policies, and health care.

18. @intstudentloans – International students or students interested in studying abroad could learn a thing or two from these tweets. Stay up-to-date on the types of student loans that are available in different countries.

19. @CheapScholar – Doug Schantz works as a college administrator and his goal is to help others find out ways to make make education more affordable for college students. His posts discuss the cost of textbooks, tuition discounts, and health insurance tips.

20. @Green_Panda – College students/graduates can check out this twitter account to read up on personal finance, student scams, cheap travel options for students, and “what is cool on the web” regarding the latest in student loans and education.

As the summer season slowly comes to an end, it’s time for students to start thinking about how they will be budgeting for the upcoming school year. Here are some tips on how to survive the school year without starving yourself to death:

1. Calculate your costs – It is extremely important for all students to write down how much they plan to spend on food, housing, transportation, laundry, bills, and various other personal expenses. Also, instead of calculating your monthly expenses, try writing down your annual expenses as well – just to give yourself a little reality check. It may also be a good idea to write down a grocery list before you go shopping so you can avoid any unnecessary purchases.

2. Research your campus – Why pay for a brand new laptop when your university offers free Internet on campus? Try taking a walk around the campus to check out the available computer rooms, printers, etc.  Some schools may also put on free events for students, or offer discounts to the gym or swimming pool, if applicable.

3. Look for student discounts – There are countless companies that offer student discounts, such as Apple, Sprint, and T-Mobile, so ask a representative about the options that are available for students. Your student ID is essentially your golden ticket to student discounts, so make sure it is with you at all times.

4. If you absolutely need clothes, then shop at a thrift store – Thrift stores should be an obvious solution for every college student. It is important to remember that you are a student and not a consumer, so if you are a big spender try to avoid all of those expensive clothing stores you usually visit.  (Plus the more clothes you buy, the more it will cost to do laundry).

5. Don’t buy school supplies until after the first day of class – This can be a big “no-no” for many students. On the first day of class try asking your fellow students what they plan on buying, or have a discussion with your professor about what you *really* need for the classroom.

6. Rent textbooks or order them online – The average full- time student spends approximately $700 on textbooks every year. Avoid shopping at campus bookstores because they are just there to lure you into buying an expensive textbook. (The campus makes enough money off your tuition and student fees anyway). Try checking out sites like Chegg.com, eCampus.com, or CampusBookRentals.com to shop around for deals and discounts. If you absolutely need to buy a textbook at your campus bookstore, than buy a used one; and it doesn’t hurt to ask your friends or fellow students if they any old textbooks lying around.

7. Forget having a vehicle – Let’s face it: owning a vehicle will drain you of all your finances. Not only do students have to factor in transportation costs, there are also insurance, parking, and maintenance costs. The last thing you need is a speeding ticket or a fender bender to set you back on your budget. Many colleges and universities offer bus passes for the week, month, or even the semester; so swallow your pride and take advantage of cheap public transportation. It will be better for you, and the environment.

8. Don’t use your credit card – This tip can be summed up in one word: INTEREST! It’s always good to have a credit card for emergencies, but think twice before you use it to buy all those little things throughout the day. However, it is important to point out that most companies will not allow anyone under the age of 21 to sign up for a credit card, so you may need your parent’s consent. It may also be a good idea to set up a checking account if you don’t have one already, but look around for one with a free overdraft protection.

9. Avoid as many bills as you can – We all know how hard it is to survive without TV or the Internet. But thanks to YouTube and free Wifi, there are several options for students besides paying a hefty monthly bill. If you simply cannot survive without TV or Internet in your room, try asking your roommates or neighbors if they are interested in splitting the cable costs with you. And always remember to pay your bills on time!

10. Do NOT (I repeat: do NOT) eat out at restaurants – Besides textbooks, this is another major and costly mistake for many students. Why pay $15 for a burger and fries when you can pay $7 for the same meal at a grocery store?  Also, try to purchase as many bulk items as you can as they may come in handy further on in the semester. You might also want to look into cheap Tupperware containers or Ziploc bags so you can carry around a little snack with you when you go to class.

Michigan State University Federal Credit Union (MSUFCU) Financial 4.0 Podcast

MSUFCU’s podcast has over 40 episodes which discuss employment, financial security, student scams, overdraft protection, and much more.

College Without Going Broke

Learn about financial aid eligibility and applications, identify theft, and some of the most common mistakes students make when applying for financial aid.

Financial Aid Quick Tips

The majority of these podcasts consist of interviews with experts and professionals who discuss student employment, scholarships, and grants.

The Loan Geek

From the Connecticut Student Loan Federation, topics touch on interest rates, payments, benefits, and the most frequently asked questions about financial aid and scholarships.

Financial Survival Training for Students

With a mixture of both video and audio podcasts, listeners get some helpful advice from other students as well as financial experts.

The Scholarship Lady

Kim Stezala, author of “Scholarships 101: The Real-World Guide to Getting Cash for College,” interviews numerous financial aid experts who discuss SAT test preparations, and the most common mistakes students make when applying for college.

Student Debt Relief Series

Even though there are only four episodes, experts discuss numerous important financial aid issues such as how to reduce college costs and become eligible for student loans.

SunTrust Education Loan Financial Aid Audio Series

After listening to these three episodes, students can learn everything about private loans, the Free Application for Federal Student Aid (FAFSA), issuing a Student Aid Report, and how to manage your debt and credit history.

Going Somewhere? The Knowledge You Need for College

The Education Services Foundation gets expert advice from “Captain Obvious” about the basics of the FAFSA and how to avoid student scams.

American Indian College Fund’s Video Podcast

American Indian students get updated on scholarships, the Think Indian campaign, and various educational statistics.

College Planning Power Hour

Experts discuss several important tips and tricks every current or future student should know about before applying for college, as well as how to cut down on college costs.

Some of the most prestigious colleges and universities in the country have re-introduced the admissions interview to help them pick out “one straight-A student from another.” Interviewing college applicants used to be quite common up until the 1990s, but thanks to the economy and applications coming in at record-high numbers, it seems as though the admissions interview is making a comeback.

There has been much controversy concerning the validity of these interviews: Admissions officials claim that the interviews are less important than grades or test scores, but others believe it is a form of profiling.

Interviews have always been common at small, private, or regional colleges; but in the past few years other institutions, such as Hood College and William and Mary, decided to re-introduce their interview program to help with the applications process.

William and Mary stopped interviewing their applicants during the 1990s, but they decided to “revive” the program in 2004. Wendy Livingston, the senior assistant dean of admissions, stated that they interview approximately 36 students a day, (or 11 percent of the 12,500 applicants), and that the students who participate in the interviews are “twice as likely” to get accepted.

“It seems like everybody who applies is the captain of their cross-country team, is a section leader in their orchestra, is in National Honor Society, has 1450 SAT scores, has a four-point-something ridiculous grade-point average,” said Nick Velleman, the senior interviewer at William and Mary. “When everyone is like that, then we start looking for the people who really stand out.”

Officials at American University have been using “non-evaluative” interviews for “informational purposes only,” and the University of Pennsylvania interviews approximately 25 percent of their applicants.

As of right now some universities, such as the University of Maryland or the University of Virginia, do not conduct interviews at all, while others like Georgetown University have made it mandatory for all future students to meet face to face with an official before getting accepted.

“We pride ourselves on a ‘holistic admissions process and this personal contact between school and applicant is one of the most important symbols of that and one I hope we don’t lose in pursuit of ever higher numbers of applicants,” said Charles Deacon, the admissions dean for Georgetown.

At Harvard and Yale applicants are “strongly encouraged” to participate in an interview even though it may not be mandatory. Approximately two-thirds of all Harvard applicants are interviewed, but due to Harvard’s growing applicant pool, admissions director Marlyn McGrath stated that admission interviews are “more important than ever.”

In the past there have been complaints that the admissions interview puts an unnecessary burden on students who are forced to pay for travel expenses and re-arrange their summer schedules. So in 2008, Stanford University started an alumni interview program in six different cities which reaches out to approximately 5,000 of Stanford’s 32,000 applicants.

Other universities have started to embrace technology to help students with the interviewing process: Two years ago Wake Forest University in North Carolina started interviewing future students through Skype or webcam chats, and as of this fall Towson University will start interviewing all of their applicants via WebEx videoconferencing.

What to expect for your admissions interview

On average, a typical interview can last anywhere from 30 to 60 minutes. Applicants are usually interviewed by an admissions officer, but some schools have started asking students, alumni members, or staff to conduct the interviews as well.

Some of the most common questions are:

• “Why are you interested in college?”
• “What did you do this summer?”
• “Who is your hero?”
• “Why did you choose your specific field of education?”
• “What are your plans for after graduation?”
• “Do you plan on participating in any campus activities?”
• “What sort of activities do you do outside of school?”
• “Where do you see yourself 10 years from now?”
• “What is your biggest weakness?”
• “Why did you choose our college/university?”
• “What was your high school experience like?”
• “What books have you been reading?”
• “Tell me about your family”
• “What courses do you enjoy the most/least?”
• “Do you have a job?”
• “What was your favorite/least favorite class in high school?”
• “What other schools are you applying to?”

There is no mistaking his preference. All things considered, Nick Brown wants to pursue a career in NASCAR.

If he had his druthers, he would prefer to be behind the wheel.

But he knows there is more money to be made if he gives up driving to pursue a crew member position, perhaps one day tackling the top spot as a crew chief. So despite winning his first race against the big boys this summer, the Bath, ME resident headed south last week to the heart of race country.

He has parked his car, at least for now, and begun his future educational foray into college at the University of North Carolina Charlotte. His major may be mechanical engineering but it isn’t quite what you might expect.

Because this program is a racing enthusiast’s dream complete with a minor in motorsports engineering.

Racing in His Blood

Maine sportswriter Steve Solloway noted that Nick Brown isn’t “much different from other 18-year-old recent high school graduates who are long on dreams and short on experience.” Of course, like many male teens, he likes to drive fast.

It’s just that he has always channeled that enthusiasm to the race track.

As one might expect, Brown is from a racing family.

“I really got into racing from my dad – he took me to the Saturday night races when I was just a baby,” chuckles Brown. “I really had no choice but to like racing – my dad and my whole family are such huge racing fans.”

“I first started racing when I was 7-years-old,” explains Brown. “I started out racing go-karts at Beech Ridge Motor Speedway in Scarborough.”

In 2000, he won his first race, and in 2001 he added another 2 wins. Then came 2002 where he won a total of 15 times and earned his first points championship. In 2003, he moved on to Maine’s premiere racing location, Oxford Plains Speedway, where his racing skills continuing to develop. Form 2003 through 2006 he would earn four straight track Kart championships.

In 2007, at the age of 16, he left the Kart world for what is called a Legend car, a scaled down version of racing coupes from 70 years ago, and raced at several different tracks in New England in the NELCAR series. In 2008, he took yet another step, racing an ACT legal late model and making the three-eighths mile oval at Oxford Plains his home track.

A Summer to Remember

In his second year racing the late model ACT series, Brown earned his first win. It was a 40-lap race at Oxford and came just one week after he graduated from Morse High School.

According to Brown, there have been another 3 to 4 top 5 finishes and another 6 to 7 top tens. Early in the summer he stood fourth in the cumulative standings and was still in the top five until he took a week off to attend his senior prom.

Those racing performances garnered him a lot of attention, allowing him to compete for a slot in the annual TD Banknorth 250 at the Plains. He was even given a prominent, head table seat at the midweek press conference alongside veteran drivers Ricky Rolfe, Tim Brackett, Glen Luce and Joey Polewarczyk, Jr.

While it was not to be in the cards for this year, it represented a huge step for Brown who did have some prior experience with the race. It was just three years ago that Brown got a taste of big time pit duties. He was a crew member for Whorff Motorsports and was part of the team that helped Jeremie Whorff top Kyle Busch for the 2006 TD Banknorth 250 victory.

Tremendous Support

Brown was quick to point out the adults in his life that have been so instrumental in his development as a driver and racing enthusiast. First, he cited his parents, Al, and Tami, particularly when it comes to that major piece of equipment, the car itself.

“My father and mother have always owned and help me maintain my car,” adds Brown. “My father has pretty much been my crew chief from the days of the go-kart until now.”

The college freshman was quick to point out how many others have been helpful to him as well.

“Jaime Magno, Jim Howe, Zach Anderson, Chris McInnes, Mark Green and my brother Ben are always a big help,” notes Brown. “Both at the track and in helping me maintain the car between races.

“And I am fortunate to have a lot of great sponsors: Dunkin’ Donuts, Subway, Servepro, Midcoast Glass and Windows, Jim Magno Builders, Reno Racing and Whorff Motorsports.”

On to UNCC

Maintaining a 3.4 GPA and managing to make the honor roll 15 times in 16 academic quarters at Morse means that Brown also has some other options beyond racing. But he admits racing at times has taken over.

“A few years ago, we had a crisis,” Brown states, referring to his parents view of what had become too big of a focus on cars and racing. “All that I wanted to do was work on race cars but my parents wanted more from me.”

There was talk of entering the engineering field and while not as exciting as racing, Brown recognized his parents were probably right, that getting an education was of utmost importance. Then he learned of the mechanical engineering program at UNCC, a program that offered a motor sports concentration.

“When I saw the program that UNCC offers, an engineering program based around racing, I knew that was the program for me,” explains Brown. “The campus is located in the heart of race country and some of the best crew chiefs in NASCAR have graduated from the program.”

It will be a real test to see if the crisis is in fact abated because Brown has indeed parked his car for now. But in true form, Brown is as Solloway says, long on dreams even if he is short on experience.

“I would really like to race while I am in North Carolina but my financial situation will not allow it,” says Brown with a sigh. “Down the road, I would really like to get onto a short track team or something else here to maybe get my foot in the door for the future.”

With such a viewpoint, it seems Brown should soon be long on experience as well.

There is little doubt that test preparation can affect your SAT exam scores. Students seeking admission to the most selective universities have been known to pay significant sums of money for personal tutorials to ensure they are well-prepared for these all-important tests.

While it is clear that preparation does matter, those with limited budgets simply cannot afford the costs associated with private tutorial services. But those on a budget should not ignore this important test preparation – they just need to seek out the most cost-effective options.

Options to Consider

First, students should gain access to sample tests. These practice exams help students become acquainted with the format of the tests and the styles of questions being asked. Familiarity is a real key to reducing the overall anxiety that comes with taking such important standardized tests.

Students can gain access to one copy of the exam free at the Peterson’s College site. You will need to register and you will be limited to but one sample but it is a great place to start and again the point of emphasis is that the test can be accessed free of charge.

Two of the agencies offering private tutorial options have entered the video game market. Students looking for additional test prep practice options can turn to the Princeton Review for My SAT Coach and to Kaplan Test Prep for the game FutureU.

The games are from two gaming industry giants, Ubisoft and Aspyr. FutureU which is currently available for download to a PC or Mac computer but the My SAT Coach is available only for Ninetendo DS. Both will set the user back about thirty bucks.

A standard, cost-effective option that many students and parents swear by is the College Board’s $19.95 “Official SAT Study Guide.” The reason that most find it the item to purchase is the booklet provides four critical elements.

The guide first offers a basic tutorial on the test-taking process. Second, it contains a math review of the key topics that students can expect to see.

Third, it gives students the chance to practice taking timed tests. Finally, it is similar in format to the real process: it is done without a computer using the traditional pencil and paper format that is a hallmark of the SAT.

Other such options do exist. There is the Princeton Review’s Cracking the SAT, Barron’s SAT 2400, Gruber’s Complete SAT Guide, and Kaplan SAT Premier Program. Each works in a similar manner.

Other Important Considerations

If students find that they are weak in the vocabulary areas, they can turn to another tech option, a new site called VerbaLearn. While there is no attempt to tie the building of vocabulary to the actual style of testing one faces on the SAT, access is free and the site is designed to prepare students for any nationally-normed test (SAT, ACT, and/or GRE). The key to making this site effective is to spend time on vocabulary building then return to the actual sample tests to determine if you have indeed built your fundamental vocabulary to a more appropriate level.

Lastly, there is always the issue of self-motivation. Those with a desire to prepare and an ability to structure their own time will find all of these more cost-effective tools great options to consider.

If on the other hand structure isn’t your strongest suit and procrastination an issue, you may well want to consider the test-preparation classes and their related-tutorials. The only issue to remember is that this latter option is the most expensive way to go.

One of the more highly-touted college education savings plans is the 529, so named after Section 529 of the Internal Revenue Code. Designed to help families set aside funds for future college costs, 529 Plans can be utilized to pay the costs at qualified colleges all across the nation.

However, when it comes to specific 529 plan options, investors must realize that not all plans are getting the job done.

Popular Saving Option

In recent years, the 529 college savings plan has been growing in popularity. One key element of 529 plans is that they are not state specific. In most cases, students can live in one state, use a 529 plan from another state for investment purposes and then choose to attend school in some third state.

Plans can differ state by state so it is important that investors do their homework. While dollars that go in are taxable at the federal level, all earnings are free of future tax liabilities. In addition, some states offer tax breaks on some of the ingoing dollars.

Complicating the concept however are two distinct forms of 529 plans. Savings plans which work very much like a 401K or IRA. Such a plan will offer various investment options to the investor.
Prepaid plans allow students to pre-pay all or some of the costs of an in-state public college education. These plans can later be converted for use at private and out-of-state colleges.

Critical Data

Since funds are available in every state yet vary from state to state, it is imperative that students and parents research the various options available. Morningstar.com is a site that independently evaluates 529 plans and publishes their findings publicly every year.

Given the impact of the recent economic downturn on everyone’s investments, it is easy to see why the selection of a particular plan is extremely critical. Morningstar thoroughly analyzes plans, focusing on asset-allocation, fees, flexibility, and the overall quality of the underlying investments.

Within those categories, one of particular note involves fund flexibility based on the prospective student’s age. Such options are critical for investors to adjust risk tolerances based on when the money would be needed.

The recent economic downturn hammered home the point that mutual fund investments are volatile. Plans that did not allow investors options to reduce risk and lock in earnings as the student neared college age were particularly problematic in the recent downturn.

Five Best and Five Worst

Remembering that one can likely invest in any state (though specific state tax benefits are available only for residents), the top five plans according to Morningstar are:

• Ohio CollegeAdvantage 529 Savings Plan;
• Indiana CollegeChoice 529 Direct Savings Plan;
• The Utah Educational Savings Plan Trust;
• Virginia Education Savings Trust;
• Virginia CollegeAmerica 529 Savings Plan.

For those who like strong track records, the Utah plan has long been a favorite of Morningstar while the two Virginia plans were also on the top performer list of a year ago.

On the poor performer side:

• Nebraska State Farm College Savings Plan;
• New Jersey Best 529 College Savings Plan;
• Montana Pacific Life Funds 529;
• Ohio Putnam CollegeAdvantage;
• Nebraska AIM College Savings Plan.

Again, for those who consider the most important item to be a fund’s ongoing-track record, the public should really think twice about Ohio Putnam CollegeAdvantage and Nebraska AIM College Savings Plan. Both are holdovers from last year’s worst performers (though praise is given for changes in the Ohio Putnam plan).

Other Funds

For those wanting to research the funds within their home state, a 529 Plans link is available. Just remember to think through your home state’s plan, particularly if it offers in-state income tax deductions, matching grants or other benefits for state residents. These factors can truly tip the scales towards selecting a solid in-state option over a high-ranked out-of-state plan.

And for more info on saving for college, info that includes saving options in addition to 529 plans, try this Morningstar “Guide to College Savings.”