College Benefits Research Group Discusses 529 College Savings Plans

CBRG clarifies expenses that can be reimbursed through a 529. End Quote

(1888PressRelease) March 08, 2017 - Roseland, New Jersey - Steven Sirot and David Slater, Co-Founders, College Benefits Research Group (CBRG), use a unique model to help families find the right "fit" for their child's college education financially, academically and socially. CBRG was recently interviewed by Karin Price Mueller, founder of NJMoneyHelp.com and reporter for NJ.com.

Mueller asked the co-founders to explain if a 529 plans can or can not be used for preparatory college expenses such as SAT classes and college tours. "In order to use your 529 plan, it is imperative that the expenses are for eligible college institutions. Expenses such as room and board can get tricky because if your child will be living off campus, the expenses cannot be claimed if the cost is in excess of the school's estimated cost for room and board," said Steven Sirot.

"Additionally, be sure not to use any 529 plan funds for entertainment or any non-education expense," David Slater states. He continues, "Even if there is money left over in the 529 plan account, let it sit there in case your child plans to pursue any post-graduate studies."

NJMoneyHelp.com was founded by Karin Price Mueller, an award-winning journalist who previously wrote for The Star-Ledger and currently is a contributor to Inside Jersey, Consumerist.com and other trusted resources.

College Benefits Research Group (CBRG) is a college planning organization with a unique model for working with families to find the right "fit" for their child not only financially, but academically and socially as well. Their three prong model in the college planning arena is innovative and effective in order to develop a college game plan that works for everyone. CBRG has appeared in print and broadcast media outlets.

Co-founded by Steven Sirot and David N. Slater and joined by their partner, Certified Educational Planner (CEP), Janet Loren, CBRG demonstrates how a private and/or public education is affordable and attainable and allows hard working families to hit a "home run" in finding the right school, academically, socially and financially, for their child. CBRG also assists with the filing of financial aid forms.

"We are different from other college planning services in that we offer "harmonization" of financial, educational and social guidance for the entire family," says Steven Sirot. "We meet jointly with students and parents to develop a college game plan that works for everyone. Too often college students attend a school because their friends are there, or it is the so-called 'hot school' that is on everyone's radar, without any consideration of whether the school is right for them or the long-term effect it will have on family finances. We work hard with the entire family to let students know that going to college is a responsible decision that affects the whole family, and there are no 'free rides.' The student will be responsible for their academic success in college, which includes graduating in four years, and for paying back of some loans that may need to be taken out in their name."

For more information, please visit: www.cbrg.info

###

space

Other Related Press Releases