Funding Education
With college costs growing, planning early to pay for an education is more important than ever. But with all of the choices available, it may seem like there's too much of a good thing. Fortunately, with proper planning using a variety of funding options, the education you want for your child can be within your reach.
- Custodial Accounts offer tax-advantaged savings for anyone to provide for a child's educational and other needs.
- Coverdell Education Savings Accounts provide a tax-deferred way for parents or guardians to invest in a child's K-12 and post-secondary education.
- 529 Plans provide a tax-deferred way for anyone to invest in a child's education, and can be used for tuition and expenses.
- Trusts can provide an opportunity for anyone to save for a child's education. When the trust transfers to the child, the amount of the trust is no longer included in your taxable estate.
- Other Options including traditional and Roth IRAs, and permanent life insurance.
Calculate Your Potential Savings Need
Try this college savings calculator to determine how much you'll need to save.Create a Savings Plan
Contact a Thrivent Financial representative for more information on which options may best fit your education funding plan.201000957