Individuals & Families

A successful savings program to meet educational expenses requires an early start. As you begin planning for a child's education, some key issues you may want to consider are:

• How much do I need to save?
• What if the child chooses not to go to college?
• What education savings vehicle should I use?
• How does my income affect how I save?
• What if I want to retain control over the assets I set aside?

Education Planning
Your Janney Financial Advisor, working with our Financial Planning Professionals, can help you develop a plan that will consider the critical variables associated with educational savings including:

• Determination of Relevant Educational Costs - Considers the cost of a public or private institution and projects future costs based on historical inflation of educational expenses.
• Establishing a Savings Goal Program - Helps determine the appropriate savings rate to give you the best opportunity to reach your goal.
• Finding Suitable Savings Vehicles - Helps determine the most appropriate vehicle based on your present and future income, tax status and need for control of the assets.

Tax Advantaged Education Savings Programs Available
Janney offers the following tax advantaged education savings programs. Talk to your Financial Advisor about what product is best for you and your needs.

• Uniform Gifts to Minors/Uniform Transfers to Minors Accounts (UGMA/UTMA) - A custodial account in which assets are held in custodian’s name for the benefit of a child, for education and other related expenses.
• 529 College Savings Plan - A 529 plan is a savings plan that specifically targets college tuition and expenses, offering certain tax and contribution advantages while allowing for control of distributions. The distributions of a 529 plan can only be used for college and university-level educational expenses. The beneficiary of the program can be changed as needed.
• Coverdell Education Savings Account - A tax-advantaged savings account created by the U.S. government that has a maximum contribution limit of $2,000 per year and its distributions can be made for primary, secondary and university/college level educational expenses.  
  
  Contact your Janney Financial Advisor to get started.