How to pay for your child's college education is a big question for today's parents. Whether your child is six weeks old or 16 years old, it is not too early or too late to plan for college expenses. By setting a strategy now, you'll be in a better position to help your child come up with the necessary funds to pay for college when the time comes.
As with any financial planning, the first step in college planning is to set a goal. Visit our Preparing For College section to help you consider and calculate all of the expenses that may be involved. Once you've set a goal for your college savings plan, you need to consider how to reach it; and more importantly, how to integrate that goal alongside your other financial planning commitments, such as saving for your own future retirement. We can help you choose college savings strategies that can meet your student's future needs without compromising yours.
Like other types of financial planning, college planning is an evolving process. Each year you should review your plan to monitor the progress you're making toward your goals and to determine whether you need to alter your college savings strategies. We would be happy to help you with such a review. Or, if you don't have a college saving program in place, we can help you to get started. The sooner you begin, the easier it will be to meet your college savings goals.
