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College Planning

Paying for College

The cost of college increases steadily every year, and we can help you understand options available when you want to support a child's goal of earning a college degree.
 
We'll work with you to create a smart strategy so your child or grandchild can earn the education they want.
 
With a variety of financial strategies available, you have access to flexible funding options. For instance, 529 plans can cover college tuition, K – 12 tuition, certain apprenticeship costs and student loan repayments.

We’re ready to work on a custom-based strategy for you.

Check the background of investment professionals associated with this site on FINRA’s BrokerCheck

College Planning

Before you make your decisions on financing higher education, remember to talk to us so you can:
  • Get an idea for the cost of college.
  • Become familiar with alternative pre-funding plans.
  • Get information on investment alternatives you should consider.
  • Understand various education tax incentives available.
  • Determine if it makes sense to own the investments yourself or to keep them in your child's name.
  • Develop an action plan to best address your overall college funding needs.
We’ll strategize with you and map out a college savings path with the appropriate strategies for you:
  • 529 plans
  • Custodial accounts
  • Coverdell Educational Savings Accounts
  • Roth IRAs
  • Life insurance

Make a Smart Move with 529 Plans

A 529 plan is a tax-advantaged savings account to fund educational expenses for a beneficiary. There are many benefits to 529 plans:
  • Generally have low minimum start-up and contribution requirements
  • Family members and friends can contribute to the plan, increasing the benefit to the student
  • The account owner maintains ownership until the money is withdrawn
  • Funds can cover a wide range of educational costs, not simply college tuition
Prior to investing in a 529 Plan investors should consider whether the investor's or designated beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state's qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult with your tax advisor before investing.

 

2021- 2022 Undergraduate Estimated Costs

Type Tuition & Fees Room & Board Total 2019-2020 Change
Public 4-Year (in-state) $10,560 $11,620 $22,180 1.1%
Public 4-Year (out-of-state) $27,020 $11,620 $38,640 0.9%
Private 4-Year $37, 650 $13,120 $50,770 2.1

Source: College Board's 2020-2021 Trends in College Pricing, www.collegeboard.org
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Premier Bank and Premier Wealth Financial Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Premier Wealth Financial Services, and may also be employees of Premier Bank. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Premier Bank or Premier Wealth Financial Services. Securities and insurance offered through LPL or its affiliates are: 
Not Insured by FDIC or Any Other Government Agency Not Bank Guaranteed Not Bank Deposits or Obligations May Lose Value
 
The LPL Financial registered representatives associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.