I am not sure what I should be doing to save for my Children' s College Funds.
I have 3 kids (10, 8, and 4). I don't have any designated accounts for them for college. I have been maxxing out our retirement plans and our home is paid off. We have no debt other than one car payment which we can easily afford. So, what should I be doing? I have looked into 529's and prepaid tuition but just don't see the advantages of these. The CPA said not to save anything in their names due to possible financial aid impact. I am expecting that they will take out some loans and may even need to work some as well if they all are going to college. And, we have some local colleges, so they could even live at home and attend if they are interested in going to those colleges.
When my kids do leave, we will most likely downsize our home. But, don't know what kind of market we will have then so I don't want to depend on any profits from that.
Advice?
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