Hi Friends, Please find the link which I have used for the demo College cost calculation : www.capitalgroup.com/advisor/tools/planning/ext/college-savings-calculator 529 plan Eligible college lookup : www.savingforcollege.com/eligible_institutions/index.php
When it comes to tax savings, the following order is what we should follow as it gives the maximum to minimum tax savings: 1. Contribute to 401K upto employers match - 100% return on the money on the spot and also both Federal and State tax advantage. 2. Max out Health Savings Account if eligible - Triple tax advantage - HSA funds are totally tax free when used for medical expenses, making the HSA better than either traditional or Roth IRAs for that purpose. At worst, the HSA behaves much the same as a Traditional IRA after age 65. 3. Max Traditional IRA or Roth IRA (or Backdoor ROTH IRA) based on income level - Both federal and state tax advantage (Either Pre or Post). 4. Max out 401K (19.5k) - Both federal and state tax benefit. 5. Contribute to 529 - Only State Tax benefit on contribution in few states, not federal. But the capital gains from growth are not taxable if used for qualified expenses. Remember, when it comes to tax savings and flexibility, 529 comes after all the other retirement accounts.
Hi vijay As usual thanks for the detailed analysis.. here the discussion is the educational expenses using the tax savings plan Hope 529 would be the first priority in that case
@@ArthiPrem Agreed. I was just highlighting that when it comes to tax savings, 529 is at the bottom of the list. It is not financially a good decision to contribute to 529 before maxing out 401K and IRA. But after maxing out 401K and IRA, 529 is the next thing to take advantage of. As always, great video Prem. Not many know or understand about 529. You have laid it down in simple terms.
Good explanation bro. However, I just want to highlight a few things about the fee structure in US universities. You have mentioned the fee for top universities. When the aspiring students hear this, they will be panicked. I’ll breakdown about the fee system. Almost 99.9% of the universities, you pay fee for credits unlike Indian system. For example, if I take 3 subjects in a semester (considering 3 credits per subject, total 9 credits for 3 subjects), I’ll pay for that 3 subjects alone. If I take 2 subjects (we must take minimum 2 subjects for fall, and spring semesters), I’ll pay for only 2 subjects. Let’s consider each credit costs $1100. Therefore, multiply $1100 X 9 credits (for 3 subjects) = $9900/semester. Approximately 7.20 lakhs INR. That’s how we will pay the fees. That said, don’t consider going to top universities. Waste of money. In US, wherever you study, you have to find job by yourself. We have only career fair/job fair. That’s not a campus placement.
Good video both .. Just a FYI in case if you had not known already .I have heard about the downside of a 529 savings plan where lets say , A student ( lets say Asians) who has good academic merit wanting to apply for scholarship to an instate University will not be able to get the scholarships the student deserves , because the State knows the amount of money accumulated on the 529 savings plan. State may award the scholarship to another student with academic merit who can prove financial hardships.
Bro thanks for bringing this topic I want to clarify the same Merit based scholarships wont affect by the 529 plans But financial aid grants provided by federal or state may affect because they will do the analysis about how much family can contribute and eventually 529 will come to the picture and it will impact the financial aid provided by them But if u are calculating the savings by the plan vs financial aid amount.. hopefully 529 plan would be in the better plan Thanks again for bringing this discussion
Good information for the youngsters who wanted to do higher studies there. Even my two grandsons are U.S citizens . Let us see what will be the situation and cost when they grow up. Glad to see both of you. Take care.
Several scholarships are available for colleges- mainly need based on economic status in all colleges. I have put 2 of my children at Harvard university. At Harvard, it is tuition free for a family with $60000 yearly income.
Hi bro, we just given the link to check the eligible outside usa institutions, unfortunately i tried some Indian universities and those are not eligible but u can give a try Yes u can change beneficiary at any time and u can use for ur own educational purposes
@@srinivasanrajamani2725 Sorry bro.. I should mention it College cost calculation : www.capitalgroup.com/advisor/tools/planning/ext/college-savings-calculator 529 plan Eligible college lookup : www.savingforcollege.com/eligible_institutions/index.php
Sorry bro, please find the link College cost calculation : www.capitalgroup.com/advisor/tools/planning/ext/college-savings-calculator 529 plan Eligible college lookup : www.savingforcollege.com/eligible_institutions/index.php
Brother , the amount saved in 529 will be considered as an asset of the student ? Will it impact scholarships?? Do you already have any video abt different ways to get scholarships??
Apart from 529 tax savings plan is there any private companies offering educational policies ? Like In india we have lot of private insurance companies providing educational policies.
Great info exactly what I was looking for my son. You guys rock with all the essential info we need to live in USA. Keep doing more videos like this. Stay blessed.
Hi Prem bro thanks for sharing this information it’s very useful. I have clarification what’s the difference between education plan 529 vs IRA savings Can we use IRA account savings for education? Plz clarify thx.
Hi bro We can use IRA amount for qualifies education expenses but you have to pay income tax for traditional IRA entire amount withdrawal or ROTH IRA earnings withdrawal Whereas 529 doesn’t require to pay any income tax for the earnings which is the big money So the 529 is the best plan for education
@@ArthiPrem Your conclusion 529 is the best plan for education is not exactly right. 1. ROTH IRA withdrawal - contributed money can be withdrawn with no penalty or tax. It can be used for any purpose. So lets say that if I have contributed 6K every year in ROTH IRA for 10 yrs, I can withdraw 60K from ROTH IRA after 10 yrs without any penalty or tax. 2. Traditional IRA or Rollover IRA - It is tax deferred when we contribute the money - both on federal and state. Most of us will not qualify for Trad IRA contribution because of income limit. But if we withdraw money from Rollover IRA, lets say 60K as qualified expenses for education, there is no penalty as you mentioned. But we do have to pay tax on the withdrawal, which you have mentioned as well. But because we did not pay the tax for the money that went in, this will come out ahead of 529. A 22% tax bracket person would have saved $13,200 just from the tax for 60K. Also this extra $13,200 is earning money as well when it is invested. Both this make a big difference and makes it better than a 529. Also, the money from IRA has no other restriction after retirement like the ones in 529 (Can be used only for qualified educational purposes). If a person has maxed out their 401K and IRA, then yeah 529 comes next to take advantage of. Other than that, great video Arthi Prem. Keep going. 👍🏽
Hello Arthi Prem , Thanks for your Video. As you said we can use 529 saving plan amount in any country for higher studies . Just want to know we can use in our country(India) college.
I'm a middle class student i can't afford ₹ 2 crore for my degree🎓 because it's more than our family wealth How can i study in USA by scholarship please tell me
Do well in your undergrad and get good GPA. Write GRE and get good score. Apply to universities in USA for Masters that fit your GPA and GRE score. If you have a good GPA and GRE score, you can get scholarships. BTW, I was a middle class student and I did the above to get here. Good Luck!
@@ArthiPrem Thank you! Hope to stay in touch. Anytime you plan a trip to Boston, my wife, kid and I will take care of you guys :) This is my email id shanmugarajan1987@gmail.com.
Hi ! Dr. Shanmuga Rajan : Yes ArthiPrem couple have been doing a great job ! Appreciate their dedication and effort even during Arthi’s advanced stage of Pregnancy ! All the more excellent has been your gesture to them ! Appreciate !!! This is how relationships should be built and endured !!! All the very Best to all of you !!!
@@varadharajansrinivasan310 Thank you so much for your kind words :) You are absolutely right about ArthiPrem. I appreciate you taking time to convey your wishes to us. Best wishes to you too :)
Sorry bro.. I should mention it College cost calculation : www.capitalgroup.com/advisor/tools/planning/ext/college-savings-calculator 529 plan Eligible college lookup : www.savingforcollege.com/eligible_institutions/index.php
Hi sister Please go through all the benefits before selects one if possible check with financial advisor Both are having own advantages and disadvantages Also we should be think about federal financial aid and scholarships while selecting 529 plans We will upload one more video for that
Hi thanks for the video. Actually I have some more questions. Could you please help me! How to find out 529 eligible colleges inside america? I read that if student is using 529 plan amount they are not eligible for college scholarships..is it true?
Almost all colleges qualify for 529 inside America. That does not have to be a concern at all. College scholarships can be merit based or need-based. Merit based scholarships are not affected by 529 at all as it does not take parents income/assets into account. But need based scholarships will account for parents income and assets. 529 does come under parents assets. So it does have an impact on need based scholarships. But the impact is minimal though. This should not be a reason for not saving in 529 plan. www.thebalance.com/how-529s-affect-scholarships-and-vice-versa-4153510
Thanks for the video guys. Question : What if the state I reside doesn't have state tax? Will I get tax benefits if I apply in out of state plans? or will there is be no "Tax Savings" of us? It would be great if you could post a video on how to invest 529 savings for 1st time investors like me. Thanks again
Hi I am following your vlogs for quite some time. Very informative. One query We were in us long ago. My son born there,we came back to India. He is competing 12th next year. He want to do his BS in USA. What kind of fees structure he will pay.
Hi Thank you All the best for your son You can expect the fee for $20k to $40k per year and it depends on the course and college plus you need to consider the accommodations also and the living expenses vary as per the city where college is located So need to calculate all the aspects and you can try sponsors , we have uploaded the related video in the link ruclips.net/video/zOHFMWs_YKo/видео.html
If you have 529 in Ohio can you use that money for colleges in other states? If yes, then do u have to pay tax or penalty or out of state fee or something of that sort ?
@@thimpu09 Getting consultancy jobs on contract but not direct opportunities, but I’m looking only for direct recruitments , can’t again sit with a consultancy for life long ☺️☺️
Thanks a lot for the info. Its Amazing. I have few questions. Do we have any Indian institutions ?. Also, what if i change my job from OH to NJ ?. How does it work then ?
Hi sister You have 3 options - After moved to a new state you can contribute to the old state 529 plan but you may loss state tax benefits for contribution - You can open new 529 plan in the state and roll over the existing 529 plan amount into the new one - You can keep the existing one as it is and open the new 529 plan in the new state , you can maintain multiple 529 plans
If we take a 529 plan from Ohio State, but my son gets to study in a out of state college. In this case, do we need to pay any state penalty or any other penalty?
Just to be clear, there are many private universities that are non-proft and they are all eligible. Eg: Harvard University, Johns Hopkins University etc.
Hello Arthi Prem, I am a financial Planner. My kids already finished college last year. 529 Plan is a good plan, but you should know the pros and cons of the Plan. 529 plan will impact the free aid (Need based free aid) from the school. If you go through the FAFSA form you will know it and one more thing the 529 may have market risk
Prem ji, what's the benefits for indian parents those who in India interested in there children's masters or UG study in US in future in 529 Tax savings plan?
Mr Prem I generally see your posts Everything is well explained I got green card last year and I am now in Boston with my daughter I have some doubts Can I contact you through your email
![Felix "Unfair" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/Oswujxm2Ag0/mqdefault.jpg)
Hi Friends, Please find the link which I have used for the demo
College cost calculation : www.capitalgroup.com/advisor/tools/planning/ext/college-savings-calculator
529 plan Eligible college lookup : www.savingforcollege.com/eligible_institutions/index.php
When it comes to tax savings, the following order is what we should follow as it gives the maximum to minimum tax savings:
1. Contribute to 401K upto employers match - 100% return on the money on the spot and also both Federal and State tax advantage.
2. Max out Health Savings Account if eligible - Triple tax advantage - HSA funds are totally tax free when used for medical expenses, making the HSA better than either traditional or Roth IRAs for that purpose. At worst, the HSA behaves much the same as a Traditional IRA after age 65.
3. Max Traditional IRA or Roth IRA (or Backdoor ROTH IRA) based on income level - Both federal and state tax advantage (Either Pre or Post).
4. Max out 401K (19.5k) - Both federal and state tax benefit.
5. Contribute to 529 - Only State Tax benefit on contribution in few states, not federal. But the capital gains from growth are not taxable if used for qualified expenses.
Remember, when it comes to tax savings and flexibility, 529 comes after all the other retirement accounts.
Hi vijay
As usual thanks for the detailed analysis.. here the discussion is the educational expenses using the tax savings plan
Hope 529 would be the first priority in that case
@@ArthiPrem Agreed. I was just highlighting that when it comes to tax savings, 529 is at the bottom of the list. It is not financially a good decision to contribute to 529 before maxing out 401K and IRA. But after maxing out 401K and IRA, 529 is the next thing to take advantage of.
As always, great video Prem. Not many know or understand about 529. You have laid it down in simple terms.
Good explanation bro. However, I just want to highlight a few things about the fee structure in US universities. You have mentioned the fee for top universities. When the aspiring students hear this, they will be panicked. I’ll breakdown about the fee system. Almost 99.9% of the universities, you pay fee for credits unlike Indian system. For example, if I take 3 subjects in a semester (considering 3 credits per subject, total 9 credits for 3 subjects), I’ll pay for that 3 subjects alone. If I take 2 subjects (we must take minimum 2 subjects for fall, and spring semesters), I’ll pay for only 2 subjects. Let’s consider each credit costs $1100. Therefore, multiply $1100 X 9 credits (for 3 subjects) = $9900/semester. Approximately 7.20 lakhs INR. That’s how we will pay the fees.
That said, don’t consider going to top universities. Waste of money. In US, wherever you study, you have to find job by yourself. We have only career fair/job fair. That’s not a campus placement.
Keep it up. Thanks for researching and posting such valuable information. One more thing about 529 plan is the ability to transfer the beneficiary
Hi Bro, Thanks for the video!! Keep posting useful videos like this.. Waiting for your video on scholarship
Very useful video 👍 Keep rocking. Take care
Great video people should know about this plan for college savings
You guys are doing great, thanks for your information, this is very much useful to plan for my kids, kudos Nanba 🙏
Good video both .. Just a FYI in case if you had not known already .I have heard about the downside of a 529 savings plan where lets say , A student ( lets say Asians) who has good academic merit wanting to apply for scholarship to an instate University will not be able to get the scholarships the student deserves , because the State knows the amount of money accumulated on the 529 savings plan. State may award the scholarship to another student with academic merit who can prove financial hardships.
Bro thanks for bringing this topic
I want to clarify the same
Merit based scholarships wont affect by the 529 plans
But financial aid grants provided by federal or state may affect because they will do the analysis about how much family can contribute and eventually 529 will come to the picture and it will impact the financial aid provided by them
But if u are calculating the savings by the plan vs financial aid amount.. hopefully 529 plan would be in the better plan
Thanks again for bringing this discussion
Thanks For your kind reply.
Keep going 👍👍👍
🙏🙏
529 tax saving details was superb, nicely explained prem and arthi questioning is really interesting
Thanks🙏
OMG ,I missed your comment with link
Thanks Happy Holiday !
Thanks happy holidays 🎉🎉
Thanks for an excellent information
Please share the information about the PG Admission and the advisable university for the STEM course
Spr explain na ..keep rocking
Superb guys.. keep rocking
Thanks a lot bro and sis. Very useful info.
Thanks bro 😊
Thanks Prem. one correction. out of country students from India pay international fee. NOT out of state tuition fee.
Nice explanation, appreciate the effort👌
Excellent.. lots of good information..
Very useful information... bro. Thanks for sharing your knowledge.
Thanks sister :)
Nice 👍🏻 and well explained. Maybe I need to think about it to contribute towards this plan. I do have two kids and they are US citizens.
Can you explain about FBAR and FATCA?
Really good video, could you please prepare video about scholarships and educational loans.
Pls Post a video about Returning to India after working in the US for a few years
Sure 👍👍
Super information.. Thanks for not adding Trolls
I like your no nonsense stick to facts approach.. pls continue the good work of information sharing. God bless.
Hi Prem, Thanks for the vedio , can you please share the website to check the college fees , you used in your vedio
Good information for the youngsters who wanted to do higher studies there. Even my two grandsons are U.S citizens . Let us see what will be the situation and cost when they grow up. Glad to see both of you. Take care.
🙏
நல்ல info bro. கலக்குறீங்க.
Great bro and sis keep going 🤝
Good information, can share the link which you used to check the tution fees
Scholarships and financial aid in US universities video podunga bro pls
Sure 👍👍
Finacial aid scholarships detail sa pootunga anna
Very useful info buddy..
Several scholarships are available for colleges- mainly need based on economic status in all colleges. I have put 2 of my children at Harvard university. At Harvard, it is tuition free for a family with $60000 yearly income.
Thanks for the inputs ... it would be helpful for the people
Are scholarships applicable for non us citizens as well
Thanks for the info bro
PA gives 529 tax benefits irrespective of any state plan. And DE doesn’t give any tax benefits even for DE state plans. Just want to share info !!!
Thanks for sharing... good to know
Good information
There are some other plans available, which won't affect the college free aid as well as avoid the market risk with good returns
Thanks for the comments sister
Please share the details, so it would be useful for everyone
Can we change Beneficiaries from 1st child to 2nd child. Also if none used the amount can we withdraw the amount in future?
Very good info Bro , I am in Cincinnati, very useful.👍
Thanks bro
Namba state thaan neengalum 🙌🙌🙌
@@ArthiPrem yes Nanba , good luck for both of you. We will soon chat over the phone.
Very good video!
Is the money can be used for educational purposes in India?. Does the beneficiary can be modified on a timely basis?
Hi bro, we just given the link to check the eligible outside usa institutions, unfortunately i tried some Indian universities and those are not eligible but u can give a try
Yes u can change beneficiary at any time and u can use for ur own educational purposes
Let’s say if you are in H1 or L1 and you kid is still consider as out of state ?
All these scholarships and plans applicable for non us citizens as well
529 plan can use by H4 /F1 students
@Arthiprem any h1b travel ban news?
You are helpful couple 😍😍😍so sweet both of you 😍😍😍
Useful video
Hi Dear... How re yu 😍
Gud Info Sis, It will be helpful for those who wanna study in US...
Yes i am good sister
Hope u are also good
Thanks
Thanks for the video.It is very useful.Can you share the websites where you showed about the fee structures and what are all universities etc.
I mean to say all the websites.especially 14:13 min of video
Sorry 4:58 min video
@@srinivasanrajamani2725 Sorry bro.. I should mention it
College cost calculation : www.capitalgroup.com/advisor/tools/planning/ext/college-savings-calculator
529 plan Eligible college lookup : www.savingforcollege.com/eligible_institutions/index.php
Very useful thank you
Bro,my wife is currently in h4 and wants to convert to f1 for doing her masters. Whether I can leverage tax benefits against the fees.
Excellent video , can you share the link for college cost calculation. ?
Sorry bro, please find the link
College cost calculation : www.capitalgroup.com/advisor/tools/planning/ext/college-savings-calculator
529 plan Eligible college lookup : www.savingforcollege.com/eligible_institutions/index.php
Brother , the amount saved in 529 will be considered as an asset of the student ? Will it impact scholarships??
Do you already have any video abt different ways to get scholarships??
Do you have idea on how to choose Portfolio percentages. What is your suggestion on that?
Apart from 529 tax savings plan is there any private companies offering educational policies ? Like In india we have lot of private insurance companies providing educational policies.
Great info exactly what I was looking for my son. You guys rock with all the essential info we need to live in USA. Keep doing more videos like this. Stay blessed.
Hi Prem bro thanks for sharing this information it’s very useful.
I have clarification what’s the difference between education plan 529 vs IRA savings
Can we use IRA account savings for education? Plz clarify thx.
Hi bro
We can use IRA amount for qualifies education expenses but you have to pay income tax for traditional IRA entire amount withdrawal or ROTH IRA earnings withdrawal
Whereas 529 doesn’t require to pay any income tax for the earnings which is the big money
So the 529 is the best plan for education
@@ArthiPrem thx bro
@@ArthiPrem Your conclusion 529 is the best plan for education is not exactly right.
1. ROTH IRA withdrawal - contributed money can be withdrawn with no penalty or tax. It can be used for any purpose. So lets say that if I have contributed 6K every year in ROTH IRA for 10 yrs, I can withdraw 60K from ROTH IRA after 10 yrs without any penalty or tax.
2. Traditional IRA or Rollover IRA - It is tax deferred when we contribute the money - both on federal and state. Most of us will not qualify for Trad IRA contribution because of income limit. But if we withdraw money from Rollover IRA, lets say 60K as qualified expenses for education, there is no penalty as you mentioned. But we do have to pay tax on the withdrawal, which you have mentioned as well. But because we did not pay the tax for the money that went in, this will come out ahead of 529. A 22% tax bracket person would have saved $13,200 just from the tax for 60K. Also this extra $13,200 is earning money as well when it is invested. Both this make a big difference and makes it better than a 529. Also, the money from IRA has no other restriction after retirement like the ones in 529 (Can be used only for qualified educational purposes).
If a person has maxed out their 401K and IRA, then yeah 529 comes next to take advantage of.
Other than that, great video Arthi Prem. Keep going. 👍🏽
Thala unga dance semma.........
🙏🙏🙏
Hello Arthi Prem , Thanks for your Video. As you said we can use 529 saving plan amount in any country for higher studies . Just want to know we can use in our country(India) college.
You can search with the link which we have pinned in the comments section
I tried to see some of our Indian colleges but no luck 🙁
Good info
I'm a middle class student i can't afford ₹ 2 crore for my degree🎓 because it's more than our family wealth
How can i study in USA by scholarship please tell me
Do well in your undergrad and get good GPA. Write GRE and get good score. Apply to universities in USA for Masters that fit your GPA and GRE score. If you have a good GPA and GRE score, you can get scholarships.
BTW, I was a middle class student and I did the above to get here. Good Luck!
Hi arthi middle class usa la medicine padikalama settle aggalama
Hi Prem bro., I'm a Post-doctoral fellow at Harvard Medical School. A huge fan of your videos and always one of the first viewers . Keep rocking :)
Hi bro
Nice to meet you bro
harvard medical school wowww 👏👏
Thanks for your comments bro 👍👍
@@ArthiPrem Thank you! Hope to stay in touch. Anytime you plan a trip to Boston, my wife, kid and I will take care of you guys :) This is my email id shanmugarajan1987@gmail.com.
Thanks bro🙏sure👍
Hi ! Dr. Shanmuga Rajan : Yes ArthiPrem couple have been doing a great job ! Appreciate their dedication and effort even during Arthi’s advanced stage of Pregnancy ! All the more excellent has been your gesture to them ! Appreciate !!! This is how relationships should be built and endured !!! All the very Best to all of you !!!
@@varadharajansrinivasan310 Thank you so much for your kind words :) You are absolutely right about ArthiPrem. I appreciate you taking time to convey your wishes to us. Best wishes to you too :)
Prem , recent changes, can use it for schools (private)
Yes we can use 10,000 per year for the schools ..
Hi Prem
Is it possible for you to share list of websites you are referring in this video especially time 2.48
Sorry bro.. I should mention it
College cost calculation : www.capitalgroup.com/advisor/tools/planning/ext/college-savings-calculator
529 plan Eligible college lookup : www.savingforcollege.com/eligible_institutions/index.php
Can we change the beneficiary name after few years?
Yes you can change at any time
There is no limitation and u can use it for your own educational expenses too 👍👍
Hi bro, am in oscillation of opening custodial roth or 529.. if my kids don't go to college , how do I take my money out?.
Hi sister
Please go through all the benefits before selects one if possible check with financial advisor
Both are having own advantages and disadvantages
Also we should be think about federal financial aid and scholarships while selecting 529 plans
We will upload one more video for that
@@ArthiPrem thank you..you both doing such a wonderful job for our community..God bless you both.
Very useful info Prem & Arthi. Can you also post college admission process for Kids here. Thanks 🙏
Sure sister thanks
Hi thanks for the video. Actually I have some more questions. Could you please help me! How to find out 529 eligible colleges inside america? I read that if student is using 529 plan amount they are not eligible for college scholarships..is it true?
Almost all colleges qualify for 529 inside America. That does not have to be a concern at all.
College scholarships can be merit based or need-based. Merit based scholarships are not affected by 529 at all as it does not take parents income/assets into account. But need based scholarships will account for parents income and assets. 529 does come under parents assets. So it does have an impact on need based scholarships. But the impact is minimal though. This should not be a reason for not saving in 529 plan.
www.thebalance.com/how-529s-affect-scholarships-and-vice-versa-4153510
@@InvestmentInsightsTamil Thanks for your reply, it is very helpful.
Thanks for the video guys. Question : What if the state I reside doesn't have state tax? Will I get tax benefits if I apply in out of state plans? or will there is be no "Tax Savings" of us? It would be great if you could post a video on how to invest 529 savings for 1st time investors like me. Thanks again
Hi
I am following your vlogs for quite some time. Very informative.
One query
We were in us long ago. My son born there,we came back to India. He is competing 12th next year. He want to do his BS in USA. What kind of fees structure he will pay.
Hi
Thank you
All the best for your son
You can expect the fee for $20k to $40k per year and it depends on the course and college plus you need to consider the accommodations also and the living expenses vary as per the city where college is located
So need to calculate all the aspects and you can try sponsors , we have uploaded the related video in the link
ruclips.net/video/zOHFMWs_YKo/видео.html
Masters ku NRI students yavaladu pay pannanum solluga bro
Bro antha website link thaga
Hi bro
Which website link bro.. showed many websites can you please mention the timeframe from the video
@@ArthiPrem antha college fees bro
If you have 529 in Ohio can you use that money for colleges in other states? If yes, then do u have to pay tax or penalty or out of state fee or something of that sort ?
You can use it for any states and u dont want to pay taxes or penalties for it while using for educational expenses
Fine
Did Master’s answer later completed data science certificate from UC Berkeley ☺️☺️
Wow berkeley university super bro
One of the world’s best university 🙌🙌
how is the course workload, tutor & projects quality and job prospects since this is an online course.
@@thimpu09 We had to put in a lot of hard work but manageable not that much difficult even UC Berkeley course load was very easy
@@arvindchandrasekaran8278 Thanks for the quick reply, how are the job opportunities after the certification
@@thimpu09 Getting consultancy jobs on contract but not direct opportunities, but I’m looking only for direct recruitments , can’t again sit with a consultancy for life long ☺️☺️
Thanks a lot for the info. Its Amazing. I have few questions. Do we have any Indian institutions ?. Also, what if i change my job from OH to NJ ?. How does it work then ?
Hi sister
You have 3 options
- After moved to a new state you can contribute to the old state 529 plan but you may loss state tax benefits for contribution
- You can open new 529 plan in the state and roll over the existing 529 plan amount into the new one
- You can keep the existing one as it is and open the new 529 plan in the new state , you can maintain multiple 529 plans
Prem, how about investing in certificates of deposit (CD) savings plans instead of 529, any pros/cons?
529 plans for educational expenses and its having lot of advantages than Certificates of deposit
We can use CD for own investment purposes
CD accounts you have to pay taxes for your gains
If we take a 529 plan from Ohio State, but my son gets to study in a out of state college. In this case, do we need to pay any state penalty or any other penalty?
No penalty, you can use it in anywhere 🙌🙌
I got to know if we have 529 plan savings , your grants will be reduced as you have enough money for your kids by yourself, is it true ??
Can I use 529K plan for private school
Yes you can if it is non-profit.
Hai prem,is private universities eligible for H1B advanced degree quota.
Good question sister
H1B advanced degree quota only for usa based public or non profit institutions
Private university graduates are not eligible
@@ArthiPrem Thankyou prem,take care.
Just to be clear, there are many private universities that are non-proft and they are all eligible. Eg: Harvard University, Johns Hopkins University etc.
Thanks
Hi bro nenga personal a have u applied i529 for daughter ????
Hi sister
Not yet.. i have started analysis for my daughter and got this knowledge so thought of sharing with our community
@@ArthiPrem thanks for the reply bro ! Wishing u all the best keep sharing ! Convey my wishes to Arthi ! Take care stay blessed
Many ppl watching the videos and no one is willing to give like 🤔
Good job prem!
Thank u bro
Actually people are giving likes😊😊
Nice info about 529 tax savings tips.. Appreciated Prem and Arthi sister. 💐💐🙏🙏
Thanks bro🙏
@@ArthiPrem சிறப்பு bro
M S KU EVLO AGUM SIR
Hello Arthi Prem, I am a financial Planner. My kids already finished college last year. 529 Plan is a good plan, but you should know the pros and cons of the Plan. 529 plan will impact the free aid (Need based free aid) from the school. If you go through the FAFSA form you will know it and one more thing the 529 may have market risk
Thanks sister... we will go through the FAFSA 👍👍
Prem ji, what's the benefits for indian parents those who in India interested in there children's masters or UG study in US in future in 529 Tax savings plan?
Indha chinna vayasula u people r doing great service.👏👏👌🏻👌🏻
Thank u sister 😊
Mr Prem I generally see your posts Everything is well explained
I got green card last year and I am now in Boston with my daughter
I have some doubts
Can I contact you through your email