As parents, we want the best for our children. A good education is the key to their success.
The cost of college tuition is climbing at 6% a year.
This is what the cost of attending university will look like 18 years from now:
As a result, student debt in the US has reached a historic level of $1.4 trillion!
Why Start Saving Today?
The earlier you save, the more your money will grow.
Your child will not be burdened with a huge student loan.
You won’t need to dip into your retirement savings or use other assets to pay for it.
Here is some data to consider:
- Only 0.3% of students will receive a full-ride scholarship that will cover all their costs. The odds are as slim as winning the lottery.
- 8% is a typical interest rate for student loans. You may pay over $100k in interest on student debt.
- 25% of parents end up paying for children’s education out of their own retirement savings, sacrificing their financial security.
- Students with college savings are 7 times more likely to attend college than those who don’t save.
Saving on Taxes Means Faster Growth of Your Money
Saving on Taxes Means Faster Growth of Your Money
Assuming 8% return, 30% tax rate and $200 monthly investment.
College Savings Account
Grow your money with UNest without having to pay taxes
- Tax-Free Growth – Your earnings are not subject to federal income taxes as long it remains in the plan. This can help your account grow faster, since all your earnings will be reinvested.
- Tax-Free Withdrawals – No taxes are due to the federal government when money is withdrawn for qualified expenses.
We can help you prepare today, so your kids can pursue their dreams tomorrow.
This material is for informational purposes only and should not be construed as financial, legal, or tax advice. You should consult your own financial, legal, and tax advisors before engaging in any transaction. Information, including hypothetical projections of finances, may not take into account taxes, commissions, or other factors which may significantly affect potential outcomes. This material should not be considered an offer or recommendation to buy or sell a security. While information and sources are believed to be accurate, UNest does not guarantee the accuracy or completeness of any information or source provided herein and is under no obligation to update this information.
