If you're like most parents, you want to provide your children ample opportunities to excel in life. One way for a child to become prepared for such opportunities is by obtaining a college education. State Farm® can help you find ways to make education more affordable.
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Education Planning: Get Started
The cost of college is rising, and the earlier you start a plan, the more equipped you'll be to help your child earn an education with little or no debt. Don't know where to begin? Start here.
Coverdell ESA or 529 Plan: Which Option Is Right For You?
There are a number of ways to save money for your child's education. Two of the more popular are the Coverdell Education Savings Account (ESA) and state-sponsored college-savings plans commonly referred to as 529 plans.
What is a 529 College Savings Plan?
The State Farm College Savings Plan, sponsored by the state of Nebraska, is designed to help you make saving for college a priority while offering tax benefits that some other savings vehicles can't provide.
College Increases Your Earning Potential
Many of the benefits of education and a lifelong pursuit of learning are intangible, but an education can also pay big dividends in terms of future earning power.
Reinvesting Previous Childcare Expenses Toward Your Child's Educational Future
Childcare expenses may be unavoidable. But once your child begins elementary school, you may experience a significant increase in discretionary income … and a great opportunity for reinvestment into your child's education account.
The State Farm College Savings Plan
A qualified tuition plan operated according to section 529 of the Internal Revenue Code, The State Farm College Savings Plan sponsored by the State of Nebraska helps make college investing simple, affordable and convenient. Find out if a State Farm College Savings Plan is right for you.
The Coverdell ESA is a trust or custodial account that provides individuals a tax-advantaged method to save for a child's education Learn about the advantages of opening a Coverdell ESA.
Funding Your Child's Education
With rising costs, it's never too early to begin saving for a child's future college education.
Uniform Gift to Minor Act (UGMA) and Uniform Transfer to Minor Act (UTMA)
The UGMA and UTMA account allows someone to easily make gifts or transfers of property to a minor without setting up a trust, which may be the appropriate option for funding a child's education.
Give the Gift of Education
Few gifts make as significant an impact as the gift of education. It's a lasting contribution that stays with the recipient for a lifetime, in the form of learning, opportunity, and success.
Additional Education Planning Calculators
Investing involves risk, including potential for loss.
Not FDIC Insured
- No Bank Guarantee
- May Lose Value