EMoney Fundamentals Certification Practice Test

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

Attending a more affordable college Increasing the cost of tuition Taking out more student loans Decreasing overall savings

Correct Answer:

Attending a more affordable college

Explanation:

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.

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