College Planning and Maryland 529 Services

The cost of college education continues to rise each year. The key to ensuring that your child has the chance at higher education is planning as early as possible by speaking with a certified personal financial planner. At Planning Needs Financial Group we work with our clients to ensure that these goals are realized. We encourage our clients to take these key steps that now make it easier to reach the goal of covering the rising cost of college tuition:

  • Start a savings program: start by estimating the cost of college. Once the cost is known the need savings can be calculated.
  • Consider tax-advantaged approaches: 529 Prepaid Tuition Plans, 529 Higher Education Savings Plans, Coverdell Savings Accounts, and cash value life insurance all have important tax advantages.
  • If there‚Äôs a shortage: If personal savings will not be enough, the family can plan for the need to apply for financial aid or begin the search for scholarship funds.

With Planning Needs Financial Group, saving for college can be easier than ever. To learn more about planning for college, Contact Planning Needs Financial Group Today!

 

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