Saving for College
Whether they want to grow up to be a farmer or a we want to support them and their dreams, as best we can.
An education creates an impact that can last generations.
Did you know that having a plan to save for your child’s college education actually increases the chances that they will attend? There’s no denying the benefits of an education: the ability to compete in today’s job market, increased earning power, and expanded horizons. But these advantages come at a price. And yet, year after year, thousands of students graduate from college. So, how do they do it? Whether they want to grow up to be a farmer or a firefighter, as parents and grandparents we want to support them and their dreams, as best we can.
We Can Help
We can help with discussing the different plans to uncover what’s best for you:
- 529 Plans*
- Coverdell Education Savings Accounts
- UGIMA & UTMA Custodial Accounts for Minors
We can help answer questions frequently asked by grandparents:
- Will Medicaid count my Grandchild's 529 plans as part of my assets?
- Can I access the money in the event of an emergency?
- Can a 529 plan affect my grandchild's chance of receiving Financial Aid?
It is important to start saving early. Use the calculator link below to learn how much you should be saving. Calculate Now
Educational Resources:
Saving for Retirement and a Child's Education
You want to retire comfortably when the time comes. You also want to help your child go to college. So how do you juggle the two? Continue reading about Savings for Retirement and a Child's Education...
529 PLANS
Did you know that having a plan to save for your child’s college education actually increases the chances that they will attend?
PAYING FOR COLLEGE
College costs are rising, but with strategic planning and saving, paying for education can be within your reach. Continue reading about Paying for College..
*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA(Opens in a new Window) / SIPC(Opens in a new Window)) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. The Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members. CFS representatives do not provide tax or legal guidance. For such guidance please consult with a qualified professional, information shown is for general illustration purposes and does not predict or depict the performance of any investment or strategy. Past performance does not guarantee future results. **There are fees associated with 529 savings plans. Investments in 529s involve investment risks. You should consider your financial needs, goals, and risk tolerance prior to investing. More information about 529 plans can be found in the issuer’s official statement or plan disclosure document which should be read carefully prior to investing. Most 529 plans are sponsored and administered by states. State tax benefits vary among the states and some offer residents additional tax benefits if they invest in their own state plan. Consult a qualified tax professional for more information