Education Planning Blogs

As parents, you want the best for your kids, and for many families, that includes a college education. But while most parents understand that college is expensive, few truly grasp just how complex and nuanced the financial picture has become. The sticker price is just one part of the puzzle. If you’re planning for your child’s education, here are a few critical—and sometimes surprising—realities to keep in mind. 1. College Costs Are Rising Faster Than Inflation… Still Yes, we’ve been hearing th

Overview 529 plans have existed for several decades, and the benefits have saved American families billions of dollars on the tax deferred treatment of gains used for qualified higher educational expenses. Despite the popularity and intended benefit of these plans, they could be overfunded. There were historically three ways to deal with excess funds in a plan after a beneficiary finished schooling: Transfer the funds to a different beneficiary who qualifies as a “member of the family” per IRS

There is a changing reality for many parents – advanced planning and a long-term strategy for financing a child’s education are becoming more of a necessity than a luxury, even for families of significant means. Education funding is one of the largest expenditures most American families will undertake, and costs continue to grow. Funding four years of college, or potentially more, requires forethought, and savvy families need to consider how they will pay for post-secondary education, potentia