College Financial Planning
Pay for Your Child’s Education, Spend as usual, and Still make Money for your Retirement
Just because you’re financially affluent doesn’t mean that your child is too good for financial aid. With rising college tuition prices, financing your child’s education is an expense comparable to major corporate expenses. With college tuition rising at an average of 3% annually, it’s time that you considered factoring your children’s education into your long-term financial plans.
Canberra Company offers expert college financial planning services to create strategies that reduce the burdens of college tuitions. We work in close quarters with the university funding system and have a vast pool of resources that you can tap into to create a financial strategy which accommodates you child’s tuitions.
Some of the ways that we can help you plan for your child’s college tuition fees include:
- Qualifying for financial aid even though you are financially affluent.
- Using IRS policies to pay up to $9000 for your children’s college fees.
- Using college savings plans to pay for all of your child’s tuition, fees and books.
- The ways you can reduce the cost of a 4-year education at a private school to make it comparable to a 4-year education at a state university.
- Effectively separating your retirement funds from your child’s college tuition fund.
- Pay for college while at the same time saving up for your retirement and mortgage.
- It is in your best interests to see your child go to the best university possible.
It’s better if you create dedicated funds, which should be managed separately from your other investment portfolios and financial plans. As such, we’ll devise strategies to reduce the financial burdens of paying for college, arrange for alternative sources of funding and even figure out how to arrange for financial aid.
Some ways that you can save for your child’s college tuitions include:
- UTMA custodial accounts—Special investment and savings portfolios that can be managed to pay for your child’s education.
- UGMA custodial accounts—Similar to UTMA custodial accounts, can be used as a separate financial instrument to pay for your child’s college.
- Trust funds that are managed by an independent custodian