CA Janutol & Company's financial planners will work with you to conduct a funding analysis of the future college expenses of your children or grandchildren. This analysis includes projected total costs at both private and public institutions. We calculate monthly and lump-sum funding requirements, taking into accound the age of the student, the amount of your current savings, and the effects of rising educational expenses.
Education Savings Account (ESA). ESAs are restricted to couples with adjusted gross income of $220,000 or less and single filers with AGIs of $110,000 or less. This option allows you to set aside funds in an account dedicated to education, including primary, secondary, or post-secondary.
UGMA/UTMA. Uniform Gifts to Minors Act and Uniform Transfers to Minors Act legislation allows you to make an irrevocable gift by transfering funds to a child for educational or any other purposes.
Scholorships. Full or partial scholarships are often available through colleges, businesses, foundations, and community groups. A scholarship may be based on academic merit or need.
Tax Credits. Individuals with income under certain limits may qualify for the Hope Scholarship Credit (for the first two years of post-secondary education) or the Lifetime Learning Credit (20 percent of the first $10,000 of tuition and fees).