Education Savings
Saving for education can be quite challenging,
especially with the cost of education on the
rise. There are so many options for saving for
education. A First South Bank Representative
can help estimate the cost of education for
your child, determine how much needs to be saved,
and help choose the education savings plan that
is right for you.
Education Account Comparison
Chart
Coverdell Education Savings
Account (ESA)
If you are interested in saving for a child's
educational expenses, you may be interested
in an Education Savings Account (ESA). You can
make non-deductible contributions and the interest
earned is tax-free. Distributions are not taxed
if spent on qualified expenses.
529
Plans
529 College Savings Plans are state-sponsored
education savings programs that allow parents,
relatives and friends to invest for a child's
college education.
Want to determine how much money you will need
for college. Use one of our calculators.
For more information on Personal
Finance Options, click
here to send us your questions, or contact
us at 1-800-946-4178.
