Education Planning
In 2011, the cost of a year at a public university averaged more than $20,000, while a year of private school was approximately $28,500.1
Next to funding retirement and buying a home, a college education is the largest expenditure most parents will ever make. The key to sending your child to college is planning in advance.
How Can We Help?
The federal government has implemented several tax incentives to encourage education saving and ease the financial burden of paying for education expenses.
The most important incentives include:
- 529 College Savings Plans
- Coverdell Education Savings Accounts
- College Tuition Deduction
- Student Loan Interest Deduction
- Hope and Lifetime Learning Credits
We believe that an Education Plan is most effective when integrated with a comprehensive financial plan incorporating all of your various competing goals. At Columbia Strategic Wealth, we're here to assist you in selecting the appropriate solution to help you accomplish the goal of funding your child's education.
1Current annual college cost figures are obtained from Peterson’s. The college costs may include tuition, room and board, and books and expenses as reported by Peterson’s. Copyright© 2016 Peterson’s, a Nelnet Company, and its licences. All rights reserved.