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Old 01-21-2011, 04:25 PM
 
Location: Milford, CT
327 posts, read 1,119,595 times
Reputation: 214

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I was thinking how much of an advantage would it be to pay my kids primary school education from CHET? I send them to parochial private school today. I was thinking instead of writing out a check out of basically a cash account. Why not write it out of an account that is earning money and getting a tax break from CT income tax. Thoughts?

Yes I was going to add in addition to what I do now for the annual Tuition I am paying out. Hell now its almost a payment plan with earned income and state income tax savings as well.

Hope to hear from some of your experiences.
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Old 01-21-2011, 04:34 PM
 
Location: Milford, CT
327 posts, read 1,119,595 times
Reputation: 214
Oh my bad, read the fine print. Can only be used for postsecondary education.

Eligible Educational Institutions
"Accredited, postsecondary educational institutions offering
credit toward a bachelor’s degree, an associate’s degree, a
graduate level or professional degree or another recognized
postsecondary credential, including certain proprietary
institutions and postsecondary technical and vocational
schools and certain institutions in foreign countries, which are
eligible to participate in a financial aid program under Title IV
of the Higher Education Act of 1965."
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Old 01-21-2011, 07:43 PM
 
Location: Connecticut
34,942 posts, read 56,970,098 times
Reputation: 11229
CHET is a savings account for college education. It is usually started when the child is young and contributions are made regularly to it while the child is growing up. Jay
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Old 01-24-2011, 05:31 PM
 
Location: Milford, CT
327 posts, read 1,119,595 times
Reputation: 214
Thanks, Yes I started it since he was born so he already has 2 years of state school paid and he's only in kindergarten. I must of had a lapse because I was thinking, I got this education account that I can just pay for school now by just increasing my monthly contribution then write the tuition check when needed with possible gain to boot. My only hope now is that he'll stay on to post secondary education.
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