Title : Protecting College Funds From Creditors
link : Protecting College Funds From Creditors
Protecting College Funds From Creditors
College Funds and Bankruptcy
With the cost of college tuition rising at an alarming rate, many parents understand the value of saving money for their child's college tuition and expenses. College costs can be very expensive, from tuition and class fees to room and board, parents often attempt to put money aside to make sure they have sufficient funds to help their children make the transition from high school to college.
Many parents wisely start saving for their child's future education early, so that they may have significant funds saved before the student graduates high school. Many choose to set up separate savings accounts, mutual funds, or other accounts to accumulate the money needed to pay for school when the time comes. Unfortunately, financial crisis may strike a family, whether it be job losses, divorce, death of a spouse, or other serious life events. The child's guardian may choose to use funds from the savings accounts to pay for necessary bills, or may decide to file for bankruptcy to provide relief from mounting financial obligations.
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