如何建立一个 大学储蓄账户 for Your Baby

If you’re expecting a child, you may find yourself thinking ahead to college. The cost of tuition continues to rise at public and private universities alike, with full-time in-state students at a public four-year university in California paying an average of $15,2023年的学杂费为642美元. Meanwhile, tuition and fees at private universities in California cost an average of $45,同年382.¹

The price of higher education doesn’t have to mean racking up tens of thousands of dollars in debt. With college savings programs such as 529 plans and the Coverdell education savings account (previously known as an Education IRA), you can help your student offset the cost as soon as they’re born.

What is a 大学储蓄账户?

A 大学储蓄账户 is designed to help you save for elementary, 中等及高等教育费用. The 最好的大学储蓄账户类型, 比如529计划或Coverdell教育储蓄账户(ESA), offer tax-advantaged strategies2 that may help you accumulate more money over time.

当然，还有其他选择来帮助支付大学学费. Some families may use a custodial account (UTMA/UGMA), savings bonds or a Roth IRA. 经济援助——包括 scholarships ——当你的孩子准备好上大学的时候也可以.

How do you decide which college savings option is right for your baby? 寻找税收优惠的最佳组合, financial benefits and flexibility while keeping to your overall financial needs.

What is a Coverdell教育储蓄帐户?

A Coverdell教育储蓄帐户 is a tax-deferred trust account created by the US government to help families fund educational expenses for beneficiaries, 开户时年龄必须在18周岁以下. (This age restriction may be waived for special needs beneficiaries.) The total maximum contribution per year for any single beneficiary is $2,000.

Coverdell esa可用于支付合格的小学, 中等及高等教育费用 — and withdrawals made for these expenses are tax-free. 学生必须在30岁之前支付学费.

与Coverdell esa相关的收入限制. 如果你的调整后总收入(MAGI)超过220美元,000美元用于联合申报, 你没有资格参加这个计划.

What is a 529 plan?

以《太阳集团平台》第529条命名, 529 plans are investment accounts that allow you to set aside money for qualified education expenses without paying taxes on your earnings or interest on those savings.

任何人都可以向该账户捐款, 就像科弗戴尔ESA, 这些资金可用于教育费用.

我如何建立一个 大学储蓄账户 for my baby?

开设529计划或Coverdell ESA相对简单. 首先，您需要选择提供者. 你需要考虑到计划的质量和成本, including enrollment fees and minimum contribution amounts before you decide. If you’re still unsure which college savings plan is right for you, contact a Patelco注册金融专家 来帮助回顾你的目标.

Next, 在这种情况下，你需要指定受益人, your baby — for the account and provide their date of birth and Social Security number. 这些账户大多可以在网上建立.

Once you’ve provided the required information, you’ll want to choose where to invest your money. Most experts will recommend using aged-based funds where the assets are adjusted automatically based on the child’s age.

Can I 变更受益人 我孩子的大学储蓄计划?

Anyone can be the beneficiary of a 529 plan as long as they are a US citizen or resident alien and have a Social Security number or tax identification number. 您可以随时更改受益人而不受罚款.

如果你要建立一个科弗戴尔ESA, the designated beneficiary must be under the age of 18 unless they are a Special Needs Beneficiary. 您每年可更改指定受益人一次, 但他们必须是受益人的家庭成员.

我能在孩子身上投资多少 大学储蓄账户?

A 529 plan offers the most flexibility for investing: There isn’t an annual contribution limit, but each 529 plan has a total lifetime contribution limit set by the state. California has one of the highest aggregate limits in the country: $529,000.

For Coverdell ESAs, the maximum annual contribution to any one beneficiary is $2,000.

祖父母能出力吗? 到我孩子的大学储蓄账户?

Yes, 祖父母可以帮助支付大学学费. In fact, anyone can contribute to a 529 plan or Coverdell ESA as long as the contributions do not exceed designated limits.

大学储蓄计划有影响吗 经济援助计划?

College savings accounts can affect 经济援助计划 — but the impact varies based on the type of plan and whose name the plan is under. Student assets and income are weighted more heavily than parent’s assets when calculating the expected family contribution (EFC) for financial aid. While grandparent-owned accounts aren’t used to calculate the EFC, disbursements from the grandparents’ accounts are treated as student income and may significantly impact your child’s eligibility for financial aid.

如果我的孩子 不上大学?

You won’t be penalized for having leftover funds in a 529 plan after your child graduates or leaves college. If you withdraw your funds and use them for non-qualified expenses, however, you’ll have to pay income tax and a 529 withdrawal penalty on the earnings portion.

如果你的孩子有一个Coverdell ESA并且没有上大学, they can withdraw the money from the account and pay taxes on the withdrawal. Any remaining funds will be automatically distributed to them when they turn 30.

你也有其他选择. These plans allow you to withdraw funds to pay for vocational school, 贸易学院和研究生院, 还有小学和中学. 这些资金最多可以用来支付10美元,000美元的学生贷款债务, 校外住房, 书籍及所需资料, 还有食物和膳食计划.

529计划允许你将受益人改为另一个孩子, so you could use the funds to pay for their education expenses or their student loans.