Annual education costs are increasing. We have seen a significant rise in college education over the years and we believe that costs will continue to rise for future generations to come.
Education savings account, also known as 529 plans*, can be utilized for qualified education related costs and the account grows tax-deferred. Should the funds not be needed for education purposes, the funds can simply be utilized as a retirement account for you.
* There is no guarantee that the plan will grow to cover college expenses. In addition, depending upon the laws of your home state or designated beneficiary, favorable state tax treatment or other benefits offered by such home state for investing in 529 college savings plans may be available only if you invest in the home state’s 529 college savings plan. Any state-based benefit offered with respect to a particular 529 college savings plan should be one of many appropriately weighted factors to be considered in making an investment decision. You should consult with your financial, tax or other adviser to learn more about how state-based benefits (including any limitations) would apply to your specific circumstances and also may wish to contact your home state or any other 529 college savings plan to learn more about the features, benefits and limitations of that state’s 529 college savings plan. You may also go to www.collegesavings.org for more information.