why save? the cost of college education is rising well beyond the rate of inflation. according to...
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Why Save?The cost of college education is rising well beyond the rate of inflation.
According to many online calculators the cost of tuition, fees, and room and board for a four-year degree in 2028 will be $242,091 for a public institution, $487,328 for private.
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Make a Plan• What is your income?
• How much of a risk can you take?
• Do you think you can qualify for financial aid?
• How much time do you have to save?
• What are your goals?
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Savings Plans to Consider• 529 Qualified Tuition Plan:
College Savings Account
• 529 Qualified Tuition Plan:Prepaid Tuition Plan
• Coverdell Education SavingsAccount (ESA)
• UGMA/UTMA
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529 Savings Plans • College Savings Account
• Prepaid Tuition Plan
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529 Savings Plans
• College Savings Account• Prepaid Tuition Plan
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529 Savings Plans
• College Savings Account
• Prepaid Tuition Plan
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Cashing Out a PrepaidTuition Plan
529 Savings Plans
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Best Candidates for Prepaid Tuition Plans• You don’t expect to qualify for financial aid
• You’re a conservative or novice investor
• You understand the risks
529 Savings Plans
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College Savings Account vs.Prepaid Tuition Plan
• What’s the tax treatment?
529 Savings Plans
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• Who is eligible?
• What are the contribution limits?
College Savings Account vs.Prepaid Tuition Plan
529 Savings Plans
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• Account allocation?
• Can I change beneficiaries?
College Savings Account vs.Prepaid Tuition Plan
529 Savings Plans
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• Are there financialaid implications?
College Savings Account vs.Prepaid Tuition Plan
529 Savings Plans
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• www.savingforcollege.com
• www.collegesavings.org
Do Your Homework!
529 Savings Plans
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Beyond 529 Plans • Coverdell Education Saving
Account (ESA)
• UGMA/UTMA
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Beyond 529 Plans
• Coverdell Education Savings Account (ESA)
• UGMA/UTMA
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Beyond 529 Plans
• Coverdell Education Savings Account (ESA)
• UGMA/UTMA
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Developed in cooperation with the
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College Savings: Course 101
Questions?