Cheryl Winokur Munk
speaker
643 appearances
14 recordings
1 series
first heard Mar 2018
last heard Nov 2024
Cheryl Winokur Munk’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsNo recordings in the last 12 months.Older appearances are listed below; set an alert to hear about the next one.
Appearances
One option might be for the family to make 223 payments of $46.61 a month.
which would total $10,394.03 for a one-year Florida university plan.
So that could be used for one year at any of the 12 state universities, and that would be for an estimated future benefit
beginning in 2038 of $17,000.
So that's a total of $10,394 and change for a total benefit of $17,000.
If you didn't want to do the 223 payments, you wanted to do a lump sum payment, you could pay $7,373.92 at the outset, and you'd still get that estimated benefit of $17,000.
It's actually not.
These were the precursors to the today traditional savings plan, the 529 savings plan.
And then I guess the states decided to offer more choice and...
So guaranteeing these can be complicated for states, whereas within a traditional 529 savings plan, there is no guarantee usually.
So it's actually a better bet in some cases for states to do the traditional 529s, which is why fewer states are offering these.
There used to be a lot more states that offered them, and many states have closed their prepaid plans.
Absolutely.
There are all different price points and rules.
Most plans have in-state residency requirements, but that can mean different things.
They can have different rules on where you can use the money and whether you can use that money out of state.
You definitely have to do your research.
Thanks for having me.
Yes.
Borrowers should go to the National Student Loan Data System to get a list of their federal loans.
Showing 501–520 of 643 · page 26 of 33
← Previous
Next →