Ep. 11 – Financing College: 529 Plans
Episode Summary – Financing a college education is no joke. HBCUbiquity’s host Thomas Joyner Jr. breaks down what a “529 Plan” is and how you can take advantage of it. His guests in this episode are Judy Cunningham, PR manager for Ohio’s 529 College Savings Plan and Dr. John Rudley, past president of Texas Southern University.
EPISODE HIGHLIGHTS / SHOW NOTES
- 529 plan- a systematic way of saving for college/ higher learning
- 529 benefits many middle-class families that do not qualify for different grants
- This savings plan has tax advantages because they are tax free unless not used for higher learning.
- The original 529 plans started in the 90s when school had pre-paid tuition plans.
- Difference in risk behind the original 529 plan and current ‘savings’ plan
- Recently Congress made the 529 plan available to be used at private institutions as well
- Things to consider before choosing a plan outside of your home state.
- HBCUs receive same benefits from 529 plans
- What it would mean if college tuition was free
HBCUs Mentioned in this episode: Texas Southern University
Judy Cunningham is the PR manager of 529 Ohio plan at College Advantage. She is also a member of Alpha Kappa Alpha Sorority Inc.
Dr. John Rudley is a former President of Texas Southern University (TSU), one of the largest public HBCUs in the nation, located in Houston, Texas. He is also a licensed Certified Public Accountant. He received his doctoral degree from HBCU, Tennessee State University.
Dr. Rudley Instagram: @drjohnrudley
Each episode features a shout out from our supporters. Did you hear yours?!
Support HBCUs with the Tom Joyner Foundation:
The Tom Joyner Foundation was founded in 1998 as the brainchild of nationally syndicated radio personality Tom Joyner. The mission of the Foundation is to support historically black colleges and universities (HBCUs) with scholarships, endowments and capacity-building enhancements.
The Foundation has provided necessary support to every HBCU in its 20-year history to help sustain and preserve the legacies of these valuable institutions. Through fundraising and donor development initiatives, $65 million has been raised to support more than 29,000 students attending HBCUs.529 Plan, College, college prep, College Savings, tuition