College Funding essentials
In today’s college climate, you must have a real, clear strategy in place for funding college. The cost of tuition, fees, room and board rise dramatically year after year. You need a financial professional who understands the specific financial challenges and can help you meet them.
Saving for College? How Are You Going to Pay?
- Gifts from Grandparents
- Other Borrowing
- Cost Reductions
- Your college savings
- Financial aid
- Income in the college years
Setting a Savings Goal
| Monthly Investment | 5 Years | 10 Years | 15 Years |
|---|---|---|---|
| $100.00 | $6,977 | $16,388 | $29,082 |
| $300.00 | $20,931 | $49,164 | $87,246 |
| $500.00 | $34,885 | $81,940 | $145,409 |
*Figures are based on a 6% average annual after-tax return.
College Savings Options
- 529 plans*
- Coverdell Education Savings Accounts*
- Mutual funds, stocks, ETFs
- Savings accounts
- Money market funds
- CDs
- Roth IRAs*
*Tax-advantaged accounts
Which Options Are Right For You?
| Open to All | X | X | ||
| High or No Contribution Limits | X | X | ||
| For Investment Control | X | X | ||
| Tax Free Earnings | X | X | X | |
| Not Included in Financial Aid Determination | X |
*Restrictions and penalties may apply.