Education Planning
FPS Financial can create a strategic funding plan to help you support educational goals without compromising your financial security.
Our Process:
- Define Education Goals – We clarify your objectives, whether college, vocational training, or private schooling.
- Project Total Costs – We estimate expenses including tuition, fees, books, housing, and related costs based on your timeline.
- Optimize Savings Vehicles – We can recommend tax-advantaged accounts like 529 plans that offer tax-free growth and withdrawals for qualified education expenses.
- Build in Flexibility – We evaluate multiple funding options—including custodial accounts, prepaid tuition plans, and alternative strategies—to adapt as needs evolve.
- Monitor Progress – We review your savings plan regularly to ensure you're on track to meet your goals.
Fund education confidently without sacrificing your other financial priorities
The fees, expenses, and features of 529 plans can vary from state to state. 529 plans involve investment risk, including the possible loss of funds. There is no guarantee that an education-funding goal will be met. In order to be federally tax free, earnings must be used to pay for qualified education expenses. The earnings portion of a nonqualified withdrawal will be subject to ordinary income tax at the recipient’s marginal rate and subject to a 10 percent penalty. By investing in a plan outside your state of residence, you may lose any state tax benefits. 529 plans are subject to enrollment, maintenance, and administration/management fees and expenses.
