Help is out thereThere is no shortage of grants, scholarships and loans available for deserving students. If anything, there may be too many of them out there. Making sense of all the options for financial aid sometimes feels like it requires its own specialized degree. Don’t worry, it doesn’t. But having someone who can lead you through the maze of options is invaluable. That’s where a Guardian Financial Representative comes in. Our Representatives have extensive experience guiding parents and grandparents from all walks of life through the process of funding a college education.
Study the optionsThere's no single correct answer to the question of how to fund your child’s education. A range of solutions are available to help maximize your college savings and, therefore, minimize your debt when the time comes to start paying tuition.
|529 College Savings Plan||Tax-advantaged* savings
Beneficiary can be changed at will
|Loss of tax advantages and 10% penalty if used for purposes other than college
Potential for high sales loads and management fees (up to 6%-8%)
|Mutual Fund||Flexibility to scale back contributions when money is tight
Funds can be used for any purpose without penalty
|No tax-advantaged status*|
|Whole Life Insurance||Death benefit will cover cost for college
Tax-advantaged cash value
Funds can be used for any purpose
|Initial premium costs
Policy lapses may cause taxation of loan value