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Tips for Avoiding College Debt

May 29, 2015 08:36 AM

With graduation season upon us, a lot of high school seniors are starting to think about college.

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While this time can be exciting, it also begins a season of collecting debt for many students. The average Minnesota graduate finishes college with nearly $31,000 in student loans, according to the Minnesota College Savings Plan.

Program Manager Robert Stern stopped by the Good Morning Northland studio on Friday to talk about the 5-29 college savings plan, administered by the Minnesota Office of Higher Education.

"This type of plan is very flexible, so the limit is very high," he said. "You can change the beneficiary as often as you need to, so that's pretty nice. And what we try to do is make it very simple, because most people do not want to spend their time trying to manage something like this, figuring out the stock market. They want to live their life."

Stern said they make it easy, managing clients' portfolios on their behalf. More information is available online.


WDIO

Copyright 2016 WDIO-TV LLC, a Hubbard Broadcasting Company. All rights reserved

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