Education Planning
Without deliberate education planning, individuals and families are often left scrambling to manage and fund the pursuit of higher education. Like all services High Plains Advisors provides, we build education savings plans tailored to your specific goals. Whether it be saving for yourself or a relative, proactive planning and management can enable individuals to realize their dream of higher education.
There are several government-encouraged educational planning tools that are available to individuals and families which allow for tax-advantaged savings. We will help you understand these tools and use the appropriate vehicle to achieve your objectives. Examples of educational planning tools include:
529 Plans: Also called “qualified tuition plans”, these are state or educational institution-sponsored tax-advantaged savings vehicles meant to encourage individuals and families to save for the future education costs of a beneficiary (child, grandchild).
Coverdell Education Savings Accounts (Coverdell ESA): These are educational savings that can be built over time using a custodial or trust structure. The sole purpose of such an account is to pay approved educational expenses on behalf of a designated beneficiary to the account.
