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'529' College-Savings Plans Can Help You Do More than Just Save for Your Children's Education
State Farm ConsumerFeature
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ACCORDING TO THE COLLEGE BOARD, THE PROJECTED-COST OF THE AVERAGE FOUR-YEAR PUBLIC-UNIVERSITY, IN 2026, WILL TOTAL 140-THOUSAND DOLLARS--AND YOU CAN DOUBLE THAT, FOR A PRIVATE-COLLEGE. HELPING CHILDREN GET THE COLLEGE-EDUCATION THAT THEY NEED AND DESERVE IS A GREAT FEELING. BUT, DID YOU KNOW THAT CONTRIBUTING NOW TOWARD YOUR SON OR DAUGHTER'S EDUCATION CAN ALSO HELP YOU ATTAIN YOUR OWN FINANCIAL-OBJECTIVES? TODAY, COLLEGE-TUITION IS MORE EXPENSIVE THAN EVER--AND IT CAN BECOME A HUGE FINANCIAL-BURDEN, FOR PARENTS AND STUDENTS ALIKE. HOWEVER, ACCORDING TO STATE FARM, BY STARTING A "529" COLLEGE-SAVINGS PLAN NOW, YOUR EARNINGS GROW TAX-DEFERRED--AND YOU MAY EVEN BE ELIGIBLE FOR A STATE-INCOME-TAX DEDUCTION, DEPENDING ON WHERE YOU LIVE. ANOTHER GREAT FEATURE OF "529" PLANS IS THE FLEXIBILITY TO TRANSFER ACCOUNT-BALANCES TAX-FREE TO ANOTHER QUALIFIED-MEMBER OF THE FAMILY. IN ADDITION, GRANDPARENTS, OTHER FAMILY-MEMBERS, OR FRIENDS CAN HELP, BY MAKING A CONTRIBUTION TO THE ACCOUNT. TO LEARN MORE ABOUT "529" COLLEGE-SAVINGS PLANS, VISIT "STATE-FARM"-DOT-COM.
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