College Planning

Preparing and paying for higher education

When it comes to paying for college, there are a number of options to choose from. Students can apply for financial aid, scholarships, loans or grants. As a parent, grandparent or legal guardian, you may even decide early on to start investing in a savings program for your child, such as the Gerber Life College Plan. With all of the available options to pay for a college education, it can be difficult for parents and their children to determine which plan is best for them. That's why Gerber Life online articles include valuable insights and ideas to help your family prepare for the college years. Our articles and advice can help you rest-assured that your child will be prepared for college and anything else the future may hold.

  1. Budgeting for College Without Breaking the Bank

    Making Room in the Budget for College SavingsWhen you think about how much parents love their children, and how important it is to budget for college, it’s not surprising to learn that 91% of moms and dads would give up vacations, cell phones or the Internet if it meant that their child’s education would be paid.

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  2. Paying for Your Child’s College Education Through A 529 Plan

    Mother and Son Saving for CollegeTuition at the average public university costs more than $8,000 today, according to an online article published on Oct. 29, 2011 by CNNMoney. For parents, this leaves an obvious question: “How can I help pay for my child’s college education?” Some parents use 529 plans to help.

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    Categories: College Planning
  3. Gerber Life College Plan: A Stress-Free Solution for Parents Paying for College

    Savings Plan for Parents Paying for CollegeIt’s not surprising that a recent independent study commissioned by Gerber Life found that 46% of parents would feel less stressed if their child received a scholarship for college. Who wouldn’t?

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  4. What Is an Education Savings Account (ESA)?

    College Education SavingsThe Internal Revenue Service provides various tax incentives for college financial planning. One of the most popular IRS
    tax incentives for college financial planning is the Coverdell Education Saving Account or ESA for short. An ESA is an account created to help parents save for future educational expenses. As in everything created by the IRS, there are extensive rules governing the proper use of Coverdell Education Saving Accounts.

    Let’s take a closer look at several Education Savings Account rules.

  5. Can I Deduct Contributions to a 529 Account?

    College Students Waiting in Admission's OfficeA 529 plan, which is also known as a qualified tuition plan, is an effective investment tool you can use to save money for your children’s college expenses. While the Internal Revenue Service does not permit account owners to take a 529 plan tax deduction on their federal income taxes, it may be possible to claim a state tax deduction for contributions you make to the plan. However, the rules for taking this deduction vary by state.

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    Categories: College Planning