Planning Ahead

Saving For Education

How does the college savings plan work?

You set up an account similar to a retirement account, which may offer you investment choices, and choices as to the amounts you wish to invest and the frequency of those investments. Some people like to fund these accounts with several large payments, whereas others may fund it each month, over many years. When your child begins attending college or university, the money can be withdrawn from the account to be used for room, board, tuition, and books.


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