Back To School: The Hedley Hoeger Group

Back to School

School is coming to an end and you might be thinking about paying and saving for your child's education, whether that is K-12 or higher education. Even if you've opened a 529 with us, we want you to have access to the resources and tools to make sure you're saving is always on track.

K-12

Did you know you can use your 529 funds to pay towards college expenses but also for K-12 tuition?

Now is the time to start thinking about how saving for a child’s education impacts other financial goals. Even setting aside a small amount for your child’s education helps. There are a handful of vehicles to help you save for education but consider a more tax advantaged vehicle such as the 529 College Savings Plan. The minimum investment to open a 529 typically ranges from $25 - $250.

Message Dominic at dmonk@rwbaird.com for more information on setting up 529 College Savings Plans as well as FAQs.

Baird's 3-Minute Education Planning Video

Intermediate to High School

Did you know the average annual college cost for the 2021-22 year to attend a 4-year public college including tuition, room, board and supplies was $27,330 according to the CollegeBoard Trends in Higher Education Report?

There are 35 states that offer a state tax benefit for contributing to your state’s 529 plan and 7 states that offer a state tax benefit whether you contribute to your in-state or out-of-state plan. Email Dominic at dmonk@rwbaird.com to find out if your state offers a 529 state tax benefit.

College Age

Has your student filled out the Free Application for Federal Student Aid (FAFSA)?

Whether your child will be attending college in person or online there are still costs associated with being enrolled. Filing for the FAFSA should be your first step to receive financial aid.

If you or a child are preparing for the return of student loan payments, make sure to read this article from Baird's Education Planning Consultant and email Dominic at dmonk@rwbaird.com with questions/concerns.

Investors should consider the investment objectives, risks, charges and expenses associated with a 529 Plan before investing. This and other information is available in a Plan’s official statement. The official statement should be read carefully before investing.

Depending on your state of residence, there may be an in-state plan that provides tax and other benefits such as financial aid, scholarships and creditor protection that are not available through an out-of-state plan. Before investing in any state’s 529 plan, you should consult your tax advisor.