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Showing posts with the label Parenting

A new way to pick the best school for your child

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Different types of data can influence how parents select schools for their children. Viktorcvetkovic/E+ via Getty Images David M. Houston , George Mason University When parents look for information to help them choose a good elementary or secondary school for their child, they often turn to a variety of sources online. For instance, they may check out state government websites that provide “ report cards ” on local schools. Examples include Virginia’s School Quality Profiles or Ohio’s School Report Cards . Parents might also rely on popular school rating websites like GreatSchools.org , Niche.com or U.S. News & World Report’s K-12 schools directory , which claims to help parents find the “best” schools for their child. As a researcher who specializes in education policy , I see some shortcomings with how many of these websites portray school quality to the public. I’m interested in the kinds of information that parents use to make school-relat...

What is a 529 college savings plan? An economist explains

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A 529 plan can pay for up to $10,000 a year for tuition at K-12 schools. MoMo Productions/DigitalVision via Getty Images Robert H. Scott III , Monmouth University The college savings plan known as a “529” is often touted as a smart way to save for a child’s college education. But these plans involve more than just putting away money for college. Here, Robert H. Scott III , an expert on 529s , shines light on how the plans work. What are 529 plans? A 529 college savings plan is an investment account that families can open to save for college by investing money that grows tax-free. The name of the account comes from Section 529 of the U.S. tax code. The money can be used for qualifying education expenses , such as tuition, room and board, textbooks, computers and travel. People can add money to a 529 account whenever they like, or set up automatic withdrawals from their checking account. At the end of 2020, Americans had invested a total of US$...