College Savings Plans Paying for college has never been easy, particularly for families with competing financial goals. Since 1985, the cost of college education has been rising twice as fast as inflation.1 In fact, four years at a private college could cost more than you paid for your house2 and, next to retirement, may be the biggest expense you and your family are likely to face.Several different types of college savings plans are available, each with its own rules, benefits and drawbacks. Your Legend Group Financial Professional can help you make sense of your choices, and devise a strategy utilizing the option or options that may best suit your situation and goals. Please watch our video (around 2 minutes) that highlights some ideas for college savings plans. Your Legend Group advisor can guide you on:Developing a comprehensive college savings strategyHow each savings plan can affect financial aid eligibilityTax benefits and consequences3Estate planning considerations3Transferring assets between eligible plansAvoiding potential penaltiesInvestment optionsContribution limitsBeneficiary changesDetermining qualified education expensesWithdrawals / Distributions Schedule A Consultation 1. Wang, Penelope. "Is College Still Worth the Price?" CNNMoney.com, April 13, 20092. Wang, Penelope. "Are you deluded about your college savings?" CNNMoney.com, May 15, 20093. The Legend Group and its affiliates do not provide estate planning, tax or legal information or advice.