Understand Your Education Funding Options
Your student looks to you for help in getting an education, and you can look to us for help figuring out the funding.
Consider Saving or Investing Money Once Budgeted for Childcare
As your student grows older and starts school, consider opening a savings or investment account using the money previously spent on childcare. There are a number of savings or investment options available. These options include a 529 College Savings Plan, a Coverdell ESA (Education Savings Account), or the Custodial Accounts (UGMA/UTMA).
Education Is the Gift that Lasts a Lifetime
You may be looking for ways to keep up with continuously rising college costs. Many have found it helpful to encourage friends and family to contribute to education savings.
Grandparents, aunts and uncles, friends and neighbors may all welcome the opportunity to help your student. Explain to them that, long after toys break or clothes are outgrown, a deposit into an education savings account will still be appreciated.
For educational purposes only.
Before investing in a 529 plan, consider the plans investment objectives, risks, charges, and expenses. Contact the plan issuer for an official statement containing this and other information. Read it carefully.
An investor should consider, before investing, whether the investor’s or designated beneficiary’s home state offers any state tax or other benefits that are only available for investments in such state’s qualified tuition program.
Securitiy products are not FDIC insured, are not bank guaranteed and are subject to investment risk, including possible loss of principal.
Neither State Farm™ nor its agents provide tax or legal advice.