Describe investment options to pay for college costs.
DefinitionDescription should include 529 plans (i.e., prepaid tuition and college savings, direct-sold and broker-sold), a comparison of the types of 529 plans and their benefits, eligibility requirements, and the tax implications of each.
Other Related Standards
Economics and Personal Finance Standards of Learning
The student will demonstrate knowledge of investment and savings planning by
- comparing the impact of simple interest vs. compound interest on savings;
- comparing and contrasting investment and savings options;
- explaining costs and income sources for investments;
- examining the fundamental workings of Social Security and the system's effects on retirement planning;
- contrasting alternative retirement plans; and
- describing how the stock market works.