- The Coverdell Education Savings Account and Additional Federal Tax Credit Programs
- Qualified Tuition Programs (QTPs) / 529 Plans
- Series EE and Series I Savings Bonds
- Who Should Own the Investments?
Most people make investments with an eye toward saving on taxes, and college investments are no exception. A Coverdell Education Savings Account is one vehicle in which earnings grow tax-deferred, and are never taxed if they are used for the beneficiary's qualified education expenses.
Qualified tuition programs are generally tax-favored, and make it possible for you to make contributions now toward education expenses in the future. Interest in Series EE and Series I Savings Bonds grows tax-deferred, and may never be taxed if the bonds are redeemed in a year when you pay your child's college tuition.You also need to determine who should own the investments that are going towards your child's education. That decision will be made, in part, based on your tax bracket, whether or not you qualify for financial aid and your net worth.
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Franklin Mint Federal Credit Union and Mint Wealth Advisors are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Mint Wealth Advisors, and may also be employees of Franklin Mint Federal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Franklin Mint Federal Credit Union or Mint Wealth Advisors. Securities and insurance offered through LPL or its affiliates are:
|Not Insured by NCUA or Any Other Government Agency||Not Credit Union Guaranteed||Not Credit Union Deposits or Obligations||May Lose Value|
*The LPL Financial Registered Representatives associated with this site may only discuss and/or transact securities business with residents of the following states: NJ, PA, NY, DE, AZ, MI, FL, MD, TX, VA, GA, NC.
Financial Learning Center content created by TrueBridge, Inc. The information provided is based upon sources and data believed to be accurate and reliable. The content contained herein is intended for information and illustrative purposes only, should not in any way be construed as a personal recommendation, and should be used in conjunction with individual professional advice.