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Toby Bresky helps identify Jewish students needing funds for ...I've long been familiar with the tremendous work and tireless efforts that Toby Bresky of JFSA expends on behalf of area college students in their search for college scholarships. Therefore, it was a pleasure to read that her efforts are being publicly lauded ("Milestones honors trailblazer Toby Bresky," CJN, June 9). Fifteen years ago, I founded the Scholarship Program of the Cleveland Advertising Association which gives out $20,000.00 yearly in scholarships to college juniors and seniors majoring in advertising, public relations and marketing at Ohio schools. Toby has helped me identify Jewish students who could benefit from these targeted funds. Many of "our" students who received CAA scholarships have gone on to terrific jobs within the Northeast Ohio advertising and public-relations industry and are active, contributing members of our local Jewish community; they found it unnecessary to migrate to other markets.Additionally, Toby continues to refer students to The Hebrew Free Loan Association.
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Get Your Kids to College: 529 PlansSo far in this series, the various alternatives for college savings have left something to be desired. Savings bonds are a fixed-income investment with no market risk, but no growth potential, either. Custodial accounts offer flexibility, but at the price of losing control of your money at an early age and unfavorable financial aid treatment. Coverdell ESAs give you both flexibility and control, but the limits for contributions are extremely low. 529 plans, also known as qualified state tuition programs, combine the positive elements of many of these alternatives into one package, while avoiding many of the negative aspects. Section 529 of the Internal Revenue Code gave states and educational institutions the right to set up such plans to benefit people who wanted to save for college.
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