An education is one of the most cherished gifts that a parent or relative can provide to a child. In a world of ever-increasing tuition rates, developing a college savings plan at an early age can make a significant difference in your ability to provide the options to your child that they deserve.
The number of different options can be daunting. At Plott and French, we will review the different options available for you to save for your loved one’s education. We’ll go over the average costs of different types of higher education institutions and your current total financial picture to find the optimal way to save for your objectives.
|Type of College||
|Public Two-Year College (in-district students)||$3,347|
|Public Four-Year College (in-state students)||$9,139|
|Public Four-Year College (out-of-state students)||$22,958|
|Private Four-Year College||$31,231|
Source: CollegeBoard, as of September 2015
We’ll discuss the benefits of certain tax-advantaged investment options, including 529 plans, Coverdell Education Savings Accounts, and other options to find the option that best matches your situation.
We believe developing a plan and funding an account is only the first step. You can rely on your advisor to regularly monitor the plan to make sure you stay on track and update you when things need to be changed. No matter what, we’ll be with you every step of the way.
Planning early and making some small changes in your college savings goals can have a major impact on your ability to achieve them.