It doesn’t take a degree in finance to see the cost of college continues to rise.
In its 2017 report, the College Board showed that public four-year institutions raised prices an average of 3.2% annually between the 2007-08 and 2017-18 school years. Put another way, a $5,000 education in 2007-08 would cost $6,851 in 2017-18.
For a few families, the lion’s share of education costs falls on parents and, in some cases, on grandparents. For our United Airlines Holdings clients who are parents you may already know, generally, the majority of families rely on a combination of scholarships, grants, financial aid, part-time jobs, and parent support to help pay the cost.
For United Airlines Holdings employees who have children approaching college age, a good first step is estimating the potential costs. The accompanying worksheet can help you get a better idea about the cost of a four-year college.
For United Airlines Holdings employees who already put money away for college, the worksheet will take that amount into consideration. For United Airlines Holdings employees who haven’t, it’s never too late to start.
Resources
There are a number of resources that can help individuals prepare for college. The U.S. government distributes certain information on colleges and costs. Here are two sites for these United Airlines Holdings employees to consider reviewing:
www.studentaid.ed.gov
The government’s college and financial aid portal.
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www.collegeboard.org
The group that administers the SAT test.
Estimating the Cost of College
What type of retirement savings plan does United Airlines Holdings offer to its employees?
United Airlines Holdings offers a 401(k) retirement savings plan to its employees.
How can employees of United Airlines Holdings enroll in the 401(k) plan?
Employees of United Airlines Holdings can enroll in the 401(k) plan through the company's benefits portal during the enrollment period.
Does United Airlines Holdings provide a matching contribution for its 401(k) plan?
Yes, United Airlines Holdings offers a matching contribution to employees who participate in the 401(k) plan, subject to certain conditions.
What is the maximum contribution limit for the 401(k) plan at United Airlines Holdings?
The maximum contribution limit for the 401(k) plan at United Airlines Holdings is in accordance with IRS guidelines, which can change annually.
Can employees of United Airlines Holdings take loans against their 401(k) savings?
Yes, employees of United Airlines Holdings may have the option to take loans against their 401(k) savings, subject to the plan's terms and conditions.
Are there any penalties for early withdrawal from the United Airlines Holdings 401(k) plan?
Yes, early withdrawals from the United Airlines Holdings 401(k) plan may incur penalties and taxes, as per IRS regulations.
How often can employees of United Airlines Holdings change their contribution amounts to the 401(k) plan?
Employees of United Airlines Holdings can typically change their contribution amounts at any time, subject to the plan's rules.
What investment options are available in the United Airlines Holdings 401(k) plan?
The United Airlines Holdings 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds.
Is there a vesting schedule for the employer match in the United Airlines Holdings 401(k) plan?
Yes, there is a vesting schedule for the employer match in the United Airlines Holdings 401(k) plan, which determines when employees fully own the matching contributions.
Can employees of United Airlines Holdings roll over their 401(k) savings from a previous employer?
Yes, employees of United Airlines Holdings can roll over their 401(k) savings from a previous employer into the United Airlines Holdings 401(k) plan.
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