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1

A couple of things about your employers plan. Pay after passing the class is normal. They will only pay when you pass a class. They won't pay if you get a poor grade. Ask your employers what is considered passing. Since you are in the United States look at community college for the first few classes. Unless you already have a degree or you will be getting ...


2

If I was you I would tackle one problem at a time. I'd get on a written budget, and look for other income opportunities. That might be working a second or third job or perhaps opening a low investment business such as tutoring. Using that money, I'd pay down the car loans and then sell the cars. Also you will need something to drive, so buying a ...


6

I appreciate your aversion to debt, but is sounds like all you need to cash-flow is one semester at a time. If you can fit that into your budget (maybe slowing down debt repayment) and it increases your income in the near future then it might be a good idea. I would not take student loans and rely on the company to pay them back. Only do this if you can cash-...


6

Separate accounts may be better if you live in a state where 529 contributions are deductible from your state income taxes. OP did not list a state, but you may need separate accounts to claim the deduction for both children. In Maryland the deduction is "per account"[1] or "per beneficiary", and each account can typically only have one beneficiary at a ...


3

Are there different people that would be interested in contributing for different kids? This is generally only an issue if your first kid is from a prior marriage/ relationship. If there is a group of people related to one kid and not the other, having separate plans probably makes it easier for them to contribute. How concerned are you about equality ...


20

With that close an age gap it would probably make sense to use separate 529s. Technically you can transfer funds and even change the beneficiary from one sibling to another, but if both are in college at the same time you would probably want to let both of them use 529 money at the same time. Also, with multiple accounts you have more flexibility over the ...


10

In my opinion, this is probably a personal choice. With no extra paperwork, you and your spouse can each gift $15000 per child. Unless you are planning to gift more than $30K combined, one acct, to keep it simple, is enough. If, on the other hand, your total gifting will exceed this, the simplest approach is to use the 2 accounts, and not need to use the ...


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