Saving for postsecondary education can prevent a lot of hassle when a student’s senior year in high school rolls around. By anticipating the cost of higher education over the course of several years, you can diminish the sticker shock you might experience if you wait.
College Savings Plans
These are programs that help families save for higher education expenses. Earnings on these accounts are tax deferred and qualified withdrawals are tax free. The funds can be used at educational institutions around the country to pay for education-related expenses including tuition, fees, books, and more. Compare various state plans to choose the 529 plan that best suits your needs.
For additional information, consult your financial professional.