College-Saving Tips

Planning for college can be complicated. It’s hard enough for an advisor to keep up with emerging trends and news in the college-savings world. For clients, attempting to understand college preparation on their own can be even more difficult.

Joseph Hurley, founder of Savingforcollege.com, has published the Family Guide to College Savings, an 88-page manual that delves into the planning and savings options available to families for a child’s college education. The guide covers areas such as affording the college of your choice; comparing college savings alternatives; transferring assets between accounts; financial aid considerations; and putting your college savings plan together.

Hurley believes advisors should integrate the guide into their routine interaction with clients, noting that an advisor’s subsequent interaction with the client will be more effective as a result. “Advisors should mail out copies of this guide to their clients who have children or grandchildren below college age. Not only will the clients appreciate receiving a helpful and objective explanation of ways to save and pay for college, but they also become better educated,” he says.