Education Planning

If you are a parent, your child’s education is most likely a high priority. With education costs at an all-time high, it’s more important than ever to have a plan to pay for higher education tuition and expenses. Fortunately, there are a number of products that can help you fund all or part of your children or grandchildren’s schooling. AWM can help you forecast your family’s educational needs, determine which College Savings Plan is right for you, and help you save appropriately while maximizing potential financial aid. We will help you consider all payment options, including: income, gifting, maximum yearly contributions, and programs that feature tax benefits. Well before their university selection and the arrival of an acceptance letter, you’ll be ready to help fund their education.

529 Accounts
We’re parents too, and understand your child’s education is a high priority. As college and university costs continue to increase, it’s important to have a plan to pay for these expenses as early as possible. Products like the 529 plan can help you fund all or part of your children’s education, save for college and education expenses, and enjoy tax advantages as well.

A 529 plan is a state tuition savings program that enables individuals to save money on a tax deferred basis to fund future college undergraduate school expenses on behalf of a beneficiary, like a child. Starting in 2018 it also allows tax free withdrawals of up to $10,000 to cover tuition expenses at public or private elementary, middle and high schools. Programs are established and maintained by a state agency, administered by mutual fund companies, and designed to encourage saving for future college costs. If used for qualified educational expenses, 529 account investment gains are not taxed.