Education Planning
Making a plan to fund education goals.
Shrewsbury Financial Collaborative
Table of content
Education Planning
Funding a child's education is one of the three big financial outlays faced by a family along with retirement savings and buying a home. The earlier the planning process starts, the more options that are available. It is essential that education planning is part of the larger overall plan so that a proper education budget can be developed that does not leave the parents unprepared for retirement.
The Details
Financial Aid may be available based on need or merit depending on the institution.
529 Savings Plans provide a tax-efficient method to save for education expenses.
Education Tax Credits can be claimed for certain educational expenses.