Expert College Funding Advisors: What Savings Plan Will Work For You?

The Coverdell Education Savings Account (CESA) is a special trust account like 529s in the sense that the earnings are tax-exempt. Parents can save stocks or bonds under the account and can even withdraw money for elementary or high-school expenses without tax penalties. However, taking this option requires thorough deliberation with an advisor. Williams states that a savings account holder cannot put in more than $2,000 a year, even if he or she opens at least two CESAs.

There will always be a way to save money for your child’s college education and the abovementioned strategies are among the most notable. Meeting up with top college funding specialists such as Studemont Group College Funding Solutions LLC can help shed light on the possibilities.

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Tapping Skilled College Funding Advisors to Map Out Projected Expenses

The cycle of graduations in a few weeks’ time can make parents shake with excitement and fear, especially if their child made it through the SATs and got accepted at a reputable university. Some experts claim that a private college will cost $30,000 a year on average, plus other expenses. You need the wisdom of expert college funding advisors such as Studemont Group College Funding Solutions to get you through.

It is important to keep all options open, particularly if your child applied to many schools and nearly all of them responded favorably. Take note, though, that some schools require freshmen to find on-campus accommodations with meal plans thrown in, but the overall cost for lodging may be lower if your child will have roommates. Coogan cited UCLA’s residence halls that cost over $16,200 a year for solo living.

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