College Saving and Funding Plans
As the price of education continues to rise, affording the cost of college requires a customized plan to meet your funding needs, while balancing other expenses and goals.
Education costs have skyrocketed over the last 10 years. As a parent, grandparent, or relative who is responsible for a child’s education, you know how critical meeting those costs will be to their future. We can help you navigate through the complexities of college planning, to meet your unique savings and funding goals.
Janney College Savings Planner
CLICK HERE to see if you're on track or to learn how you can get on the right path to reach your education savings goals by using our College Savings Planner tool to get personalized insight on your total projected costs and an estimate of the monthly amount you need to save to meet your objective.
Our Janney College Savings Planner calculating tool allows you to input your college funding goals, examine your total projected costs, and estimate the monthly amount you need to save to meet your objective.
We are able to:
- Facilitate important conversations about college planning and funding options with you, your child, and your extended family.
- Determine educational costs for public or private institutions, and project future costs based on historical inflation.
- Establish savings goals and an appropriate savings rate.
- Determine the most suitable savings vehicle based on your present and future income, tax status, and need for control of the assets.
- Review your entire investment portfolio to make sure paying for college doesn’t impede your goals.
- Review distribution options such as using funds from your retirement or investment accounts, distributions from 529, UGMA/UTMA, or other types of investment accounts.
- Obtain information on how to apply for student loans and financial aid, insurance considerations, and more.
- Discuss basic financial planning and budgeting with your college-bound student.
Tax-Advantaged Education Savings Programs
- Uniform Gifts to Minors/Uniform Transfers to Minors Accounts (UGMA/UTMA)
- 529 College Savings Plan
- Coverdell Education Savings Account
Janney Financial Planning
Through our financial planning process, we can help you understand if you are on track to meet your education savings goals and provide answers to these important questions:
- Which assets will be used to pay for a student’s—or multiple students’—education?
- What do the schools we are interested in cost?
- What do I need to save to pay for all or part of a student’s education?
- How much more should I be saving to best position myself to meet my college funding goal?
- Which accounts should I be using for college savings and how are these accounts taxed?
Let’s discuss your college savings and investing needs today, and we can help establish a plan to start saving or check-in on your progress to ensure you are on track to meet your educations savings goals! Contact us for more information.
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