Education & College Funding Plans
Planning for Education Costs
Helping families prepare for rising tuition
The cost of college continues to rise, making it more important than ever to start saving early. Whether you’re planning for a newborn or a teenager, a proactive approach can make a meaningful difference. We help families estimate future education expenses and design a savings strategy that balances today’s priorities with tomorrow’s goals.
529 Plans and Savings Options
Understanding the tools available for college savings
Choosing the right education savings account can impact your flexibility, taxes, and financial aid eligibility. We help you evaluate your options and select the approach that best supports your family’s needs.
- 529 College Savings Plans: These accounts offer tax-deferred growth and tax-free withdrawals when used for qualified education expenses, and may offer additional state tax benefits in NC or VA.
- Coverdell Education Savings Accounts (ESAs): ESAs provide more flexibility for K–12 expenses, though they come with lower contribution limits.
- Custodial Accounts (UGMA/UTMA): These accounts allow broader use of funds but may impact financial aid eligibility and transfer control to the student at adulthood.
- Roth IRAs for Education: In some cases, Roth IRAs may be used strategically for education if retirement savings are already on track.
Strategic Funding Strategies
Balancing education goals with your financial plan
Education planning doesn’t happen in a vacuum. We help you prioritize savings, use planning calculators to estimate needs, and evaluate trade-offs between college savings, retirement, and other financial goals. Our role is to help you create a realistic plan that supports your child’s future—without compromising your own.
Financial Aid & Tax Considerations
Making informed choices for long-term efficiency
Some savings accounts affect your student’s financial aid eligibility, while others may impact your tax picture. We help you understand the pros and cons of each option, including how 529 accounts are treated on the FAFSA and whether your state offers tax deductions for contributions. Our planning ensures you stay ahead of deadlines, avoid surprises, and make informed, tax-smart choices for your family.
