When you think college, you probably think cost. No surprise. College is expensive. And a variety of factors can impact college costs. However, balance cost with the fact that college graduates earn substantially more than non-graduates, and college soon becomes an investment.
Over a full working life, typical college graduates earn 66 percent more than high school graduates. Those with advanced degrees earn even more. Extended over a lifetime of working, that's a difference of more than $1 million dollars income.
The Advantage of Choice
Families today, however, are at an advantage. With a variety of college savings options available, and time on your side, careful research and planning can position you to be prepared when your student starts college. To get started, compare
college savings options side-by-side to understand what may best fit your needs and financial situation. Or read about each option individually.
Ivy Funds InvestEd 529 Plan
The Ivy Funds InvestEd 529 Plan is a 529 Plan established by the State of Arizona and managed by Waddell & Reed. Earnings grow tax deferred and withdrawals for qualified education expenses are tax free at the federal level.
Coverdell Education Savings Account (CESA)
Invest up to $2,000 per year and your earnings grow tax deferred. Funds may be used for elementary, secondary and college expenses.
Uniform Gifts to Minors/Uniform Transfers to Minors Accounts (UGMA/UTMA)
You act as custodian of an UGMA/UTMA, however your child takes control when he reaches an age determined by your state. Certain tax advantages apply.