Funding Higher Education
Funding Higher Education A college education is often the cornerstone of future success. But with tuition costs often in five figures and climbing, helping children and grandchildren with the cost of college – not to mention private grammar and high schools – is a key financial planning consideration. While most parents want to help their children with tuition, their abilities to do so may vary widely. Views on how much support is appropriate also vary. Baird Financial Advisors can help sort through these matters.

Understand, Then Support
Our advisors start by exploring your views about how much tuition help is right for your family members. Do you want to take all the financial pressure off your student so he or she can focus on academics? Or do you believe there may be some value in having your son or daughter hold a part-time job? Perhaps you’re planning for the higher education of grandchildren or great-grandchildren.

Your Baird Financial Advisor’s first job is to understand your values and philosophy toward education funding. Together, we’ll build a strategy around your time horizon, your investment style and your educational goals for the young people in your family.

College education funding should be part of a comprehensive wealth management strategy, including your overall long-term financial goals and your comfort level with various types of investments.

Tools and the Expertise to Use Them
Baird’s expertise and investment tools enable you to take advantage of the significant tax benefits available for college funding, including state-sponsored 529 College Savings Plans and Coverdell Education Savings Accounts. Favorable tax treatment for investing in a 529 College Savings Plan may be limited to investments made in a 529 plan offered by your home state. Please consult your tax advisor. Your advisor can also help you understand the pros and cons of lump sum contributions versus regular contributions over the long term.

As with any financial plan, the earlier you start, the more flexibility you are likely to have. But regardless of whether your kids are approaching college and you want to give them a little help, or you’re aiming to get an early start toward funding a complete secondary education for younger children or grandchildren, your Baird Financial Advisor has the experience and tools to help you achieve your goals.
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