How Covid-19 Has Changed the Way People Should Save for College

The pandemic and economic uncertainty is upending some of the old rules about building a college fund

Reducing equity exposure and increasing cash in a college-savings plan at this point may be both timely and comforting, says financial adviser Jeffrey Swett.

Photo: Joseph Cress/Iowa City Press-Citizen/Associated Press

The pandemic has drastically affected the finances of many families, making saving for college more challenging.

Uncertainty about job stability, fluctuating markets and how long the pandemic will last are putting added pressure on parents whose children are approaching college age. And some traditional ideas about college savings are being challenged, such as the desirability of saving for a name-brand school when so many are currently online-only or are holding only limited on-campus classes.

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