College Planning

With the cost of college tuition rising faster than inflation, saving for your child's education now is critical.  College savings plans differ significantly in features and benefits.  Some things to consider when choosing a college savings plan are:

• Tax benefits – A plan that allows you to save tax-free is a strong benefit and may make a difference in the value of your account.
• Income Restrictions and contribution limits – A plan with no income restrictions and high contribution limits allows you to save as much as you can for your child's future.  If you are just starting to save, look for a low initial deposit requirement when choosing a plan.
• Flexibility – Ownership, account flexibility, investment options,^* and control are important factors in determining which savings plan is right for your situation.

First Citizens Bank endeavors to help you understand the different plan features and find the right college savings plan to meet your needs.

• 529 College Savings Plan
• Coverdell Educational Savings Accounts