Preparing for a child’s future is usually a top parental priority. With the price of a college education continuing to rise, many parents are looking for ways to help pay for their children’s college tuition. What are the options?
Several are available. Finding the option that best suits your family’s needs may seem daunting, as some people find. The early years of your child’s life offer a great opportunity to begin some basic financial planning to help tackle the future cost burden of education.
Two popular vehicles for putting aside money for college are 529 Plans and the Gerber Life College Plan1. To help you decide which one might make the most sense for your family, here’s a summary of their advantages and how they work: