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CNN Live At Daybreak

'Dollars & Deals'

Aired September 26, 2003 - 06:25   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


CAROL LIN, CNN ANCHOR: Time now for Dollars & Deals with consumer guru Clark Howard. This morning, Clark has some surefire advice on saving money for your kids' college fund.
(BEGIN VIDEOTAPE)

CLARK HOWARD, CONSUMER ADVOCATE: Today's question is from Tim in Denver, Colorado. And, Tim, you want to know the best way to save for your son's college education. You've heard about 529 plans. You want to know more.

Well, first, let me tell you, 529 plans are so neat. Let me tell you how these things work. You can put money aside for your kids' college education or your grandchild or whoever you want to, and all of the money you earn goes tax-free to pay for your child's college education. This is a neat deal. Although some of the state 529 plans stink, very, very high costs and commissions involved with them.

There's a great Web site for you to learn more about saving for your child's college education. Simply call savingforcollege.com. And if you want to pay for your child's private schooling before college, there's also a tax-free plan for that called the Coverdale. The Coverdale allows you to put $2,000 each year aside for your child's private schooling, all the way up to and including graduate school.

(END VIDEOTAPE)

LIN: All right. Well, Clark will be back next Friday with more Dollars & Deals. And you can e-mail us your consumer questions. All you have to do is visit our Web site, cnn.com/daybreak.

In the meantime, you can get Clark's money saving tips on the Web. That address is clarkhoward.com.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com







Aired September 26, 2003 - 06:25   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL LIN, CNN ANCHOR: Time now for Dollars & Deals with consumer guru Clark Howard. This morning, Clark has some surefire advice on saving money for your kids' college fund.
(BEGIN VIDEOTAPE)

CLARK HOWARD, CONSUMER ADVOCATE: Today's question is from Tim in Denver, Colorado. And, Tim, you want to know the best way to save for your son's college education. You've heard about 529 plans. You want to know more.

Well, first, let me tell you, 529 plans are so neat. Let me tell you how these things work. You can put money aside for your kids' college education or your grandchild or whoever you want to, and all of the money you earn goes tax-free to pay for your child's college education. This is a neat deal. Although some of the state 529 plans stink, very, very high costs and commissions involved with them.

There's a great Web site for you to learn more about saving for your child's college education. Simply call savingforcollege.com. And if you want to pay for your child's private schooling before college, there's also a tax-free plan for that called the Coverdale. The Coverdale allows you to put $2,000 each year aside for your child's private schooling, all the way up to and including graduate school.

(END VIDEOTAPE)

LIN: All right. Well, Clark will be back next Friday with more Dollars & Deals. And you can e-mail us your consumer questions. All you have to do is visit our Web site, cnn.com/daybreak.

In the meantime, you can get Clark's money saving tips on the Web. That address is clarkhoward.com.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com