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The average tuition and fees at four-year colleges continues to increase, last year rising 4.4 percent at public institutions and 5.2 percent at private colleges. As the cost of higher education continues to escalate faster than the average income, parents are becoming more concerned about funding their children's education and exploring possible investment options for college savings. Financial advisors need a tool that allows them to create and display a savings plan that will make their client comfortable about their children's future.
Education Planner is designed to help financial professionals show their clients how to save at a realistic level and invest to maximize returns given the appropriate amount of risk. The Education Planner will help you will develop a saving strategy for your clients' individual financial situation by analyzing various investment options, including Section 529 plans. The results of the calculations are presented in an easy to understand report format, including interactive graphs.
Supports an unlimited number of savings accounts for each student (Checking, Savings, CDs, etc.) Allows for onetime contributions from different sources. (Grandparents' gift, inheritance, etc.)
Informative primers are included to quickly convey the basics of planning for education. These primers are designed to educate the novice investor. They can be customized to suit your needs or you can use our primer. Interviews help you determine the investment tendencies of your client.
A college database browser allows the user to select the school the student plans to attend and get accurate dollar figures for tuition, estimated room & board, and other fees charged by the institution. Education Planner also includes a tool to estimate the students expenses while in school. This includes food, entertainment, transportation, utilities, and more. Income from part-time jobs can also be entered.
Education Planner includes popular Section 529 plans, the new tax-free state investment accounts.
Education Planner also features the Coverdell Education Savings Account, formerly known as the Education IRA. Contributions, withdrawals, and growth for these accounts are fully integrated into the software.
Financial aid awards, such as scholarships or grants, can be incorporated into the client's savings plan. Users can enter one-time or annual awards. Education Planner also incorporates student loans.
Education Planner will create a plan to save for multiple children attending multiple schools. The program will allow common savings funds, as well as individual funds for the government-sponsored plans. The formulated plan will provide graphs, showing the timeline of the children's contributions and withdrawals.
Quickly calculates client's marginal tax rate to assist in determining how to best allocate investments.
Allows advisors to easily create several plans, using different mixes of assumptions, and show the results to their clients. The Asset Allocation section helps the advisor determine the right mix of investments to use to meet the client's goals.
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