Investing for College

Goal

Have adequate resources available to meet college spending needs

Common Questions and Concerns

  • Should I use a college savings plan (529 Plan)?  Should I use my own state’s plan?
  • What kind of other vehicles are available for college savings?
  • How much should I contribute annually for my college savings account?
  • What are some ways to maximize financial aid from the colleges I am considering?

PlanStrong Solution

  • Evaluate current college savings portfolio using proprietary, comprehensive approach.
  • Evaluate college tax credit and federal loan programs available to meet part of need.
  • Determine savings goal by estimating annual “Expected Family Contribution” amount, comparing it to expected expenses and determining the annual shortfall
  • Determine investment risk tolerance, at least partially based on years until withdrawals anticipated
  • Review available 529 plans to determine appropriate fit for client in current investment climate.