News from U.S. News & World Report:

Families are typically better off using 529 plans to save for college.

Once their child is born, parents are often bombarded with literature and advertisements touting different methods to save for college. And with the promise of guaranteed rates of return, cash-value life insurance policies are often pushed to eager, college-planning parents.

These policies accumulate value during the policyholder’s life and then pay out upon his or her death. But policyholders can also make withdrawals or borrow against their policies during their lifetime and use the money for college expenses. Unfortunately, many parents don’t rea……….. continues on U.S. News & World Report.

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