Core Financial Advisors Home >> Individuals >> College Funding Solutions

The dream of a college education is becoming out-of-reach for too many American families. The cost of college is daunting, and a family’s ability to afford college depends on many factors, including college costs, income, assets, availability of financial aid, and family size. However, the cost of not attending college can significantly impact the student’s earning potential.

The following table demonstrates the true cost of college:

College is Paid with After-Tax Dollars

* These numbers include an assumed 5% state tax
** This data represents the costs for only one child

Since a college education is paid using “after-tax” dollars, the amount the family must earn to pay college expenses increases as their tax bracket increases. In other words, a family must first pay the IRS before they pay the college.

At CORE Financial Advisors, Inc., our goal is to show our clients the best way to fund public or private college, and to do so without forsaking your retirement goals. This involves a holistic approach that is individualized for the client and their student(s). The solution we achieve is usually derived from various combinations of planning in the areas of:

• Parent and Grandparents contributions
• Appropriate Investment Vehicles (529 plans, Coverdell Education
• IRA’s, Roth IRA, Taxable Investment Account …etc.)
• Utilizing the Tax Law Through Tax Strategies
• Capturing Financial Aid Benefits
• Using the Student’s Tax Status
• Parent or Student Loans

Parents usually make the mistake of focusing solely on funding the targeted amount for college and neglect finding the right planning combination to help “cut” the cost of college.

CORE Financial Advisors, Inc. delivers on the challenge of College Funding Solutions.

Reach us at requestinfo@cfaplanning.com to schedule an introductory meeting.