College Funding

The annual cost to attend college, whether at a public or private school, continues to increase at a rate that is greater than the annual inflation rate. Therefore, it’s important that families begin saving for this expense as early as possible.

Coverdell Educational Savings Accounts are also very popular, as the funds are available both elementary and secondary as well as college and graduate school expenses. This makes these plans attractive in situations where the beneficiary may not attend college.

UGMA Accounts have also been used because of the lower tax rate applied to the account. However, because the beneficiary takes control of the account upon reaching the age of majority (18 in most states), these plans are not as popular as they once were.

The investment professionals at the Stahlschmidt Financial Group can help you design a plan that combines the effective funding options with the current tax laws to help you reach your college funding goals.