The cost of a college education can be daunting and there are many options to consider. It’s never too early to begin a funding plan for your child’s college education. As always, it’s the disciplined approach that emphasizes consistency with your overall goals and objectives that will bring the greatest success towards accumulating the necessary amount of money.
Important Disclosure: Content on our website and in our newsletters is for informational purposes only. The information provided may (or may not) directly apply to your situation. We recommend that readers work directly with a professional advisor when making decisions in the context of their specific situation.
The cost of a college education may be daunting for many people and/or families. If you are fortunate enough to have sufficient time to save, your road to paying for a higher education for your children will be a lot less difficult. Choosing between a public or private institution can also make a big difference in how much you will need to save. If you qualify, financial aid may also be a factor.
So. . . today’s the day you’ve decided to implement a comprehensive savings program geared toward paying future college tuition. Here are some valuable options for help in accumulating the necessary amount of money:
It’s never too early to begin your child’s college funding plan. As time goes by, you will need to re-evaluate whether you are using the appropriate savings vehicles, and whether or not you will have a funding shortfall. If you can anticipate your savings will fall short of covering your child’s entire college bill, you will be in a better position to thoroughly explore and potentially take advantage of alternative funding options. However, keep in mind, like other types of financial planning, your child’s college funding plan requires a disciplined approach that emphasizes consistency with your overall goals and objectives.
*There is no guarantee that the plan will grow to cover college expenses. In addition, depending upon the laws of your home state or designated beneficiary, favorable state tax treatment or other benefits offered by such home state for investing in 529 college savings plans may be available only if you invest in the home state's 529 college savings plan. Any state-based benefit offered with respect to a particular 529 college savings plan should be one of many appropriately weighted factors to be considered in making an investment decision. You should consult with your financial, tax or other adviser to learn more about how state-based benefits (including any limitations) would apply to your specific circumstances and also may wish to contact your home state or any other 529 college savings plan to learn more about the features, benefits and limitations of that state's 529 college savings plan. You may also go to www.collegesavings.org for more information.
Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance does not guarantee future results or even estimates of actual returns a client may achieve. This information is designed to provide general information on the subjects covered. Consult your financial professional before making any investment decision. Opinions and estimates offered are subject to change without notice. We believe the information provided here is reliable, but do not warrant its accuracy or completeness. Please see other important disclosures related to StrongValley.com
You are now leaving the Strong Valley Wealth & Pension, LLC ("Strong Valley") website. By clicking on the "Schwab Alliance Access" link below you will be entering the Charles Schwab & Co., Inc. (“Schwab”) Website. Schwab is a registered broker-dealer, and is not affiliated with Strong Valley or any advisor(s) whose name(s) appears on this Website. Strong Valley is/are independently owned and operated. Schwab neither endorses nor recommends Strong Valley. Regardless of any referral or recommendation, Schwab does not endorse or recommend the investment strategy of any advisor. Schwab has agreements with Strong Valley under which Schwab provides Strong Valley with services related to your account. Schwab does not review the Strong Valley website(s), and makes no representation regarding the content of the Website(s). The information contained in the Strong Valley website should not be considered to be either a recommendation by Schwab or a solicitation of any offer to purchase or sell any securities.