Education Funding Options

As the cost of higher education continues to rise, many parents and young people struggle with how to cover the cost of college education. Costs of in state and private schools. What are your options when planning for education funding? 529 Plan- These types of plans allow you to contribute after tax dollars that grow tax free. Qualified withdrawals from the plan are not taxed when used for qualified education expenses. You can choose a savings plan that works similar to an IRA, which allows the student to attend a school of his/her choice. Or, you can choose a pre-paid plan that allows you to pre-pay part or all of the costs of an instate public college education. Life Insurance …