Education Planning

How To Pay For Your Kids' College Expenses

Whether your child is decades away or months away from starting college, you may find yourself asking, "How will we ever afford this?" At Beacon Financial Group we provide families with the tools they need to save for and affordably pay for college tuition. Our advisors can get you started wherever you are financially and direct you towards your long-term goals of saving for college.

Start Preparing Now

When it comes to being ready for paying higher education expenses, starting sooner than later is always advised. The earlier you begin a college savings fund, the more time and opportunity the assets will have to grow. One of the most common types of college funds is a 529 college savings plan.

Talk About Your Options

Starting a 529 college savings fund has many benefits and few risks. Work with one of our trusted advisors to learn more about the following features of a 529 account:

Not restricted by income level
Federally tax-free withdrawals for approved educational expenses*
Investing options for strategic growth and compounding with time
No withdrawal restrictions
10% tax penalty for non-approved expenses

Contact Us Today

The college savings advisors at Beacon Financial Group are ready to answer all of your questions and get you on to the path towards financial success. Contact us online or by phone at (908) 788-3636 to begin your college savings plan today.

Prior to investing in a 529 Plan investors should consider whether the investor's or designated beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state's qualified tuition program. Please consult with your tax advisor before investing.

^{* Tax treatment at the state level may vary}