Saving For College

Getting an education is more expensive than ever! Preparing early on is key. While most parents want to help pay for college, they simply don’t have the means. It’s important to start saving for your child’s education as soon as possible, at birth or sooner is recommended.

Here are some shocking statistics:

-44.2 million Americans have student loan debt totaling $1.48 trillion.
-70% of college students today graduate with a significant amount of debt.
-The average borrower leaves school with nearly $40,000 in student loans. Monthly payments have reached $400!

My goal is to prevent you and your children from becoming part of these dreaded statistics, which is why I invite you to schedule your complimentary consultation with me!

During this consultation, we will be discussing various saving methods to help you prepare for the major expense of college.

Debunk Myths About College Saving Accounts

There are lots of methods for putting aside money to help pay for your child’s education. Allow me to debunk a few myths about a specific savings fund, the 529 Plan.

You are NOT limited to your home state’s plan.
You are NOT bound by income earning limits or restrictions.
You will NOT lose contributions if funds are unused.
There is NOT a set beneficiary age limit.
Funds are NOT limited to use at a four-year college or university.

The 529 Plan offers a host of benefits but is often confused with other education savings plans. The expense of college can be overwhelming, but if you know your savings options you can rest easy.

Hosted by:

Dmitry Steinsapir

Learn several different college savings techniques as well as tips on reducing expenses. I am motivated to help you feel financially prepared for this major life step and expense.

Putting off saving is all too common. Tomorrow or next week seems soon enough, except tomorrow or next week never seems to arrive when it comes time to set money aside. Understandably, there are always going to be unexpected expenses or other bills needing attention.

Your best bet is to sit down and determine how much you are comfortable with setting aside each month. Don’t expect to pay 100% of tuition. Few do. And keep in mind there are other options to help pay for education as well.

Don’t get bogged down and overwhelmed by saving for the full cost of college. Commit to just what you can afford from each paycheck and watch your savings grow over time. After all, if you start saving soon enough you will have 18 years to save!

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