Editor’s note: This is the fourth article in a six-part series focused on paying for education using smart financial and estate planning. Part one is Direct Tuition Payments: A Tax-Efficient Way to Pay for School. Part two is 529 Plans: A Powerful Way to Tackle Rising Education Costs. Part three is Coverdell Education Savings Accounts: A Deep Dive. Future articles will focus on education trusts and family loans.
If you are thinking ahead about how to pay for a child’s education, you are doing the right thing. With the cost of education continuing to increase for college, graduate school and even private K-12 schools, smart financial planning can help you maximize your investment in education. Today, there are a number of ways to take advantage of tax benefits and other plusses while saving for schooling.
