Contrary to what your child or grandchild may constantly tell you, that new video game system is not the best present ever. Know what is? An education. Nothing is more important to helping the children in your life reach their full potential than a good education. Paying for it, however, can keep even the most steel-nerved among us pacing the bedroom floor at night.

Help is out there

There 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 options

There'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.

Solution	Benefits	Considerations
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