College Savings or Retirement First? How to Decide in 2026
Should you save for your child’s college or your own retirement first? It’s one of the most common questions we hear from families trying to balance competing financial goals. Our analysis at Greenbush Financial Group shows that in most cases, prioritizing retirement creates greater long-term security—while still leaving room to build meaningful college savings over time. This guide explains why the order matters, how 529 plans fit in, and how to create a balanced strategy that protects both your future and your child’s opportunities.
Tax-Free Tips and Overtime: What the Big Beautiful Tax Bill Means for Workers
The Big Beautiful Tax Bill introduced two worker-friendly provisions aimed at boosting take-home pay: tax-free tips and tax-free overtime pay.
Big Beautiful Tax Bill Overhauls Student Loan Repayment Options: End of the SAVE Program
The Big Beautiful Tax Bill has made headlines for reshaping major areas of the tax code but buried within the legislation is a sweeping overhaul of the federal student loan system, which will have long-term implications for both current and future borrowers.
IRS Gifting Rules: Tuition vs. Student Loan Payments
Helping a family member pay for education? Make sure you're on the right side of the IRS.
Whether you're covering K–12 tuition, writing checks for college, or assisting with student loans after graduation, the tax treatment of those payments isn’t always intuitive. The IRS draws a clear line between direct tuition payments and student loan contributions—and crossing that line could mean triggering gift tax rules you didn’t anticipate.
Rules for Using A 529 Account To Repay Student Loans
When the Secure Act passed in 2019, a new option was opened up for excess balances left over in 529 accounts called a “Qualified Loan Repayment” option. This new 529 distribution option allows the owner of a 529 to distribute money from a 529 account to repay student loans for the beneficiary of the 529 account AND the beneficiary’s siblings. However, this distribution option is not available to everyone, and there are rules and limits associated with these new types of distributions.
Biden's New SAVE Plan: Lower Student Loan Payments with Forgiveness
With student loan payments set to restart in October 2023, the Biden Administration recently announced a new student loan income-based repayment plan called the SAVE Plan. Not only is the SAVE plan going to significantly lower the required monthly payment for both undergraduate and graduate student loans but there is also a 10-year to 25-year forgiveness period built into the new program. While the new SAVE program is superior in many ways when compared to the current student loan repayment options, it will not be the right fit for everyone.
Big FAFSA Calculation & Application Changes Starting in 2023
Parents that are used to completing the FAFSA application for their children are in for a few big surprises starting in 2023. Not only is the FAFSA application being completely revamped but the FAFSA calculation itself is being changed which could result in substantially lower financial aid awards for many college-bound students.
Top 10: Little-Known Facts About 529 College Savings Accounts
While 529 college savings accounts seem relatively straightforward, there are a number of little-known facts about these accounts that can be used for advanced wealth planning, tax strategy, and avoiding common pitfalls when taking distributions from these college savings accounts.
