Education Planning & College Savings Planning in Boise and Idaho Area

With the increasing globalization and remote work trends of the future, high-paying jobs are more competitive than ever before. This has left many to realize that a Bachelor’s Degree is a baseline requirement of the twenty-first-century workforce, and saving for college is more important than ever before.

In addition, college costs have risen dramatically over the past several decades, and more students are opting into Graduate School, leading to a high price that needs to be covered. For parents interested in helping their children pay for college, it pays to have an education plan in place.

TrueNorth Wealth is among the top financial firms in Idaho and Utah, with offices in Boise, Logan, Salt Lake City, and St. George. At TrueNorth Wealth, we ensure that our clients have an education plan that accounts for their unique goals and desires while starting their children off on the right foundation.

What you can expect from your Education Savings Planning team in Boise, Idaho.

When it comes to saving for college, there are many options and strategies to consider. With the help of your dedicated CFP® professional, you will explore and answer the following questions:

  • How much do you need to save each month for your children’s college expenses?
  • Which type of account(s) should you be saving in to maximize available tax advantages?
  • What types of federal aid, grants, or scholarships will your child be eligible for?
  • What happens to the college funds if your child decides not to go to college?
  • What happens to the college funds if your child receives a scholarship or federal aid?
  • How should college savings be prioritized in your overall financial plan?

You will get answers to these questions and more through the education planning process with your trusted financial planner. Your planner will work with you to understand exactly how much college will cost and how to reach that goal. Of course, this will vary based on the specific goals that you and your child have for college such as public or private, in-state or out-of-state, specific degrees or programs, and whether you plan to cover the total cost or part of the cost.

In addition, your financial planner will help you account for many of the common aspects that others miss, such as room and board costs, food and meal plans, books, supplies, and more.

Also, many couples have differing viewpoints on what they should do for their children’s college costs, usually determined by what their parents did or did not do for them. This is where your financial planner’s unbiased, academically sound point of view can be essential to help you and your partner bridge the gap and get on the same page about education planning—whatever you decide.

Last but not least, your financial planner will work with you to ensure that you don’t jeopardize your retirement by putting education costs first. There are loans and other options available for college, but there are no loans available for retirement. Your planner will be with you each step of the way to help you reach your financial goals while juggling competing priorities.

Let’s get started.

If you’re interested in working with a dedicated and trusted financial planner to craft your unique education plan, then let’s get started. Click below to schedule a complimentary consultation and meet your CFP® professional at our Boise, ID office or via teleconference.

Talk about education planning today.