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Education Planning

There are many ways to save and invest for education expenses, including:

  • Education Savings Account (ESA), also known as a Coverdell ESA

  • Custodial accounts under the Uniform Gifts to Minors Act (UGMA) and Uniform Transfers to Minors Act (UTMA)
  • 529 Plans, of which there are two types:
    • 529 Savings Plan
    • 529 Prepaid Tuition Plan

They all have their own pros and cons... and the right choice for you may be a combination of more than one of them.