4. 529 plan grants: Some of the tax-advantaged college savings accounts known as 529 plans offer matching grants for contributions based on income. In Nevada, the household adjusted income limit is just under $75,000. If parents don't meet the income requirements, they could lose $300 per year in matching contributions.
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However, in Louisiana, the income limits are more lenient. The state matches up to 14 percent of contributions depending on income, but there isn't an income limit.
The only limit is a maximum award amount, which currently totals about $21,000 for all years of contributions, says Carol Fulco, director of the state's 529 plan. Parents should check their state's website for income restrictions for any 529 grants that may be awarded.
Trying to fund your education? Get tips and more in the U.S. News Paying for College center.