If you’ve decided it’s time to start saving for your child’s college education you’re on the right track. Your child might not be able to thank you for it now, but they sure will later.
The cost to attend university/college is quite high, keeps getting higher, and can burn a hole in any budget. If you’re a parent, this is likely not news to you, but the less obvious part is how to get around this massive obstacle.
There are several Education Funding Options:
None of these, especially the last option, is the smartest way of going about funding a university/college education. Knowing what your best options are and being prepared are the key elements of successful financial planning. Even if you’re smart enough to start saving early, there’s also the question of where to put those savings.
Education Savings Plans (ESPs) are one of the best ways to save for your child’s college education. You can open a savings account for a designated beneficiary’s post-secondary education expenses.Your child’s path to future success is made easier with an Education Savings Plan (ESP). But, like everything else, not all ESPs are made equal.
The Right ESP
A good ESP will not only allow you to put money aside for your child’s future education without risks and heavy taxes. It will also provide the structure to help you meet your goals, and give you the potential to earn consistent returns on your investment. This will significantly lessen the financial burden of funding a post-secondary education, plus enjoy profitable returns – that’s the win win.
