Being Smart About Funding Education

Put College Within Reach

A higher education is a practical investment in the future earnings potential for the young (and not so young) scholars in your life. Which is why funding a college education for a child, grandchild or other individual is such a popular way of saying: “I care about you.” Plus, in many cases, a gift toward funding a college education is tax deductible.

Your RBC Wealth Management financial advisor can help you explore your options for paying college costs, which may include:

• 529 plans
• Coverdell Education Savings accounts
• Uniform Gift to Minors Act (UGMA) accounts
• Uniform Transfer to Minors Act (UTMA) accounts
• Loans
• Trust accounts

Whether paying college costs is a long-term goal or a pressing need, you can be confident you’ll have choices. Your advisor will consider expected tuition costs with inflation considerations to project your cash needs. As appropriate, your plan may include alternative investment strategies to help achieve a desired rate of return, tax-efficient funding strategies and gifting strategies.

Important information about 529 Plans and tax advice