Besides increasing savings to the 529 plan, what is another possible option to increase the probability of Alberto's Education funding?

Besides increasing savings to the 529 plan, what is another possible option to increase the probability of Alberto's Education funding?

• A. Attending a more affordable college
• B. Increasing the cost of tuition
• C. Taking out more student loans
• D. Decreasing overall savings

Answer: (A)

Lowering the amount you must fund directly through savings or loans makes it much more likely that what you’ve saved will cover the bill. Attending a more affordable college reduces the total cost of attendance, so the 529 plan savings can go further and potentially cover a larger share of expenses without increasing debt. The other options would raise or redistribute the burden rather than ease it: higher tuition costs would require more funds, taking out more loans adds debt to repay, and decreasing savings directly reduces the money available to use. By choosing a less expensive college, Alberto improves the odds that his current savings plus any aid will sufficiently fund his education.

Lowering the amount you must fund directly through savings or loans makes it much more likely that what you’ve saved will cover the bill. Attending a more affordable college reduces the total cost of attendance, so the 529 plan savings can go further and potentially cover a larger share of expenses without increasing debt. The other options would raise or redistribute the burden rather than ease it: higher tuition costs would require more funds, taking out more loans adds debt to repay, and decreasing savings directly reduces the money available to use. By choosing a less expensive college, Alberto improves the odds that his current savings plus any aid will sufficiently fund his education.