Do you worry about putting your child through college with a 30% increase in tuition every 5 years? You’re not the only parent with this concern, and Equity Trust has a solution.
In the blog article, Where Are the College Savings?, Alexis struggles with wanting to send her children to college, while not knowing the best solution for handling the expenses that come with higher education. There is one solution Equity Trust has for many parents out there, and it’s called a self-directed Coverdell Education Savings Account (CESA). It pays for education costs and eases the burden of debt after college. A self-directed CESA allows you to invest in what you know and understand, tax-free, while saving for education costs.
School loans, scarce financial aid, part-time jobs, scholarships, and opting out of a college education are not the only ways to handle tuition costs. Better yet, a CESA covers more than just tuition. One of the CESA’s best advantages is its flexibility to not only pay for enrollment to an accredited college, university, vocational or private grad school, but also fees, books, supplies and certain expenses related to room and board.
A self-directed CESA is similar to other self-directed accounts at Equity Trust. You contribute funds to the account (or rollover an existing account) and invest in what you know (real estate, tax liens, foreign currency, stocks, etc.).
For more information about the CESA or to get started today, please contact a self directed Retirement Specialist at 1.888.ETC.IRAS (382-4727).
Filed under: Uncategorized on June 28th, 2011