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Private School Tuition
Posted on 12/4/13 at 2:16 pm
Posted on 12/4/13 at 2:16 pm
My daughter is 3. She will start private/catholic school in August of 2015. I already have her first year of tuition saved ($4000). Where should I stick this money since th time frame to needing it is about 18 months? I currently have it with CapitalOne360 earning a whopping 0.75%.
Thanks in advance
Thanks in advance
5
Posted on 12/4/13 at 3:34 pm to ThatsAFactJack
Question isn't about private school tuition, its about how to sock $4k for 18 months.
You might find a 18 month CD at a credit union that pays 1.25%, but you aren't going to get much better for short term.
If you are asking about private school, I'd have reservations on a private school that only costs $4,000 a year.
You might find a 18 month CD at a credit union that pays 1.25%, but you aren't going to get much better for short term.
If you are asking about private school, I'd have reservations on a private school that only costs $4,000 a year.
Posted on 12/5/13 at 6:27 am to ThatsAFactJack
IF you want liquid and secure CD is your only real option
IF you are willing to risk a little check with your broker and there are some good options that can net you in the 4% market
IF you are willing to risk a little check with your broker and there are some good options that can net you in the 4% market
Posted on 12/5/13 at 10:17 am to ThatsAFactJack
I would take a different approach, and use the 4k to start a 529 plan for college. If you can't cash flow tuition for private school, reconsider private schools or move somewhere with good public schools. That 4k will grow significantly invested for 15 years as opposed to 18 months.
Posted on 12/5/13 at 12:44 pm to ThatsAFactJack
Some private schools will give a decent discount to pay tuition in full prior to the beginning of the school year.
My two kids go to private school and paying the tuition up front gives me a 2 percent discount...better than any savings instrument at my disposal.
My two kids go to private school and paying the tuition up front gives me a 2 percent discount...better than any savings instrument at my disposal.
Posted on 12/6/13 at 5:41 pm to ThatsAFactJack
Find your best cd and get the mature rate as late as you can. Make sure you don't have to wait to get your cash on the back end, processing or whatever else bs terminology they come up with, and find your best rate. I've only used USAA for the same scenario. There were better published rates, but I knew they wouldn't screw me.
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