College Education

 

Your Children's Education



Consider this scenario: The car's packed and the teary good-byes have been exchanged. You may feel as though your baby's leaving you, but this is one of the proudest moments of your life. You've scrimped and saved to afford your child's education, and now that the day is finally here, you can breathe a sigh of relief. Thank goodness you planned ahead and started saving early so that the next four years won't be so financially stressful.



Now, consider the alternative: What if you didn't plan? Then those next four years could be your worst nightmare, turning into a juggling act of student and parent loans, financial aid requests, and semesterly payments. Fortunately, we understand the importance of funding your children's education, and, therefore, offer a selection of products to help you meet that goal.



Of course, we can't promise that you won't get the occasional phone call, "Mom? Dad? I'm a little low on cash.…"

 

Education Funding

Education planning for your children can be a major financial consideration. Planning early allows you to take advantage of the time value of money and help minimize the savings requirement.

Consideration should be given to one or more of the following strategies when trying to maximize your college planning:



  • Prioritize your education objective with your insurance needs, retirement needs, major purchases and current income needs
  • Develop an effective savings strategy that considers asset allocation and takes advantage of education plans
  • Consider the various education funding accounts -- Qualified State Tuition Plans (also known as 529 Plans#), Uniform Transfer to Minor Accounts (UTMA) / Uniform Gifts to Minor Accounts (UGMA), Coverdell Educational savings accounts and prepaid tuition plans
  • Ensure college expenses are properly planned -- include tuition, room and board and living expenses. Factor in an inflation rate for the rising cost of tuition. Should you consider planning for post-graduate studies? Do you expect your child/children to receive scholarships or financial aid?


Important Sites for College Planning

College Savings Iowa

Iowa Student Loan

Start your Federal Student Aid, FAFSA, application today

College Savings Calculator




Need a little help in deciding which products and services would be right for you and your family? Please use the contact us button to e-mail us. We can help you analyze your needs and recommend appropriate products.

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