Making strategic adjustments can help stretch college savings accounts beyond a four-year degree.
Before transferring college savings leftovers, parents should discuss all possible scenarios for what can happen to the funds. "Most likely funds will be depleted, but if not, the balance can be a nice start for another family member's fund or the student's postgraduation future," says Featherngill.
Reyna Gobel, frequently quoted as an expert on student loans and college costs, is the author of "Graduation Debt: How To Manage Student Loans And Live Your Life" and "How Smart Students Pay for School: The Best Way to Save for College, Get the Right Loans, and Repay Debt." She has appeared on PBS's Nightly Business Report and speaks regularly at CollegeWeekLive.
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