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A higher education is a practical investment in the future earnings potential for the young (and not so young) scholars in your life. Which is why funding a college education for a child, grandchild or other individual is such a popular way of saying: “I care about you.” Plus, in many cases, a gift toward funding a college education is tax deductible.
Your RBC Wealth Management financial advisor can help you explore your options for paying college costs, which may include:
Whether paying college costs is a long-term goal or a pressing need, you can be confident you’ll have choices. Your advisor will consider expected tuition costs with inflation considerations to project your cash needs. As appropriate, your plan may include alternative investment strategies to help achieve a desired rate of return, tax-efficient funding strategies and gifting strategies.
Our financial advisors can explain your options for funding an education - now or in the future.
Important information about 529 Plans and tax advice
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Investing early and consistently is key to accumulating funds for college costs.