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Saving for education

We can help you save for your children's education expenses with practical financial solutions.

Discover a smarter way to plan for education expenses

Creating an education savings plan can help you grow your assets to cover the rising cost of a college education. Find out more about our handful of investment programs, some of which offer tax advantages, when you speak with one of our Wealth Relationship Managers.

Education savings programs

What to consider

When designing an education savings plan for your children or grandchildren, you need to ensure it accumulates the right amount of assets at the right time. Following the plan in a disciplined way, while adjusting it periodically to account for the rising cost of a college education, is also critical.

  • Choose from a handful of investment options, some of which may offer tax advantages while saving for education expenses.
  • In addition to 529 College Savings Plans, other plans, such as Coverdell Education Savings Accounts (ESAs), and Custodial Accounts (UGMA/UTMA) are available.
  • Remember to review your plan regularly to make sure it's working hardest for you.

529 College Savings Plans[@529planextended]

With a 529 plan, you have control over the funds deposited. Some plans may allow you to reclaim the funds for yourself if your needs ever change. Funds may be disbursed for qualifying educational expenses to beneficiaries of any age and the plan can also be transferred to other family members.

  • All contributions are made post-tax for federal income tax purposes.
  • Residents of some states may be able to make tax-deductible contributions (varies by state).
  • 529 College Savings Plans are municipal securities and may be subject to market volatility and fluctuation.

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