Hi there,
I am currently working full-time, and will quit my job in the middle of December and begin a school program January 5. My fiance will continue working and will support us financially.
I just came across a general suggestion about opening a 529 plan for yourself, and it seems like an interesting alternative. We plan to pay $15,000 out of pocket for my program, with the other funds coming from Federal student loans.
I've done a bit of research, but there are so many different plans that it's hard to tell exactly what the benefits might be. I figured there were some people that were experts at 529 plans on here.
Does it make sense to start a 529 plan for myself when I'll only be working another ~5 weeks? I figure we can put my income to the 529 account, and then use the savings we were planning to use for tuition, to replace some of my income. About $12,000 is due on January 5th, and the remaining $3,000 due on October 1. Is this too much work for too little benefit?
I have no idea if I've given enough information-- please let me know if you need more.