Education Planning

With the costs of secondary and higher education rising each year, many parents and relatives are motivated to take action early on to make sure that they can fund the education their families will need. As a Seneca Financial Advisors client, you can receive advice to help you estimate education expenses and explore funding alternatives now and for the future. At Seneca, we analyze funding options as they relate to your overall financial picture to determine their impact on your long-term financial plan.

Step by step, we will help you:

  • Project future education costs, taking timeframes and aspirations into account
  • Develop a strategy to meet your funding needs after a careful evaluation of the funding options that emphasize liquidity scenarios and long-term growth:
    • Uniform Gift to Minors Accounts (UGMA)
    • 2503(c) trusts
    • 529 investment plans
    • Investment products that are in line with your overall strategy
    • Direct payments to financial institutions
    • Awards for scholarship and other programs, as applicable
  • Optimize your tax situation, exploring advantageous tuition plans and the availability of tax credits
  • Execute your strategy and monitor its progress by testing assumptions and evaluating performance against projections, making necessary adjustments to help your plan stay on track