Child education planning is a wonderful gift parents and grandparents can give to the ones they love. However, it takes the right kind of planning in order to happen. At Brock and Associates, we have the solutions you’re looking for. Contact us at: 435-673-9599.
A great way to save for either a child’s or grandchild’s college education is through a states’ 529 plan, and according to the investment research firm, Morningstar, we have one of the best right here in Utah.
The Utah Educational Savings Plan has one of the lowest management fees of any plan and waves the $25 administration fee for Utah residents. Utah’s plan is so popular 80% of participants are non-residents.
The Utah plan allows contributions to grow both state and federal income tax free if withdrawn for qualified higher education expenses here in Utah or abroad. Another bonus for Utah residents, contributions are state tax deductible up to $1,620 ($3,240 filing jointly) per beneficiary.