Saving for College

Smart saving and investment solutions to help you prepare for and manage the costs of higher education.

Give the gift of education

While saving for college may seem like an overwhelming task, the decision to start to save is key. Smart planning and guidance can help your student reach their goals.

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529 College
Savings Plans

Tax-advantaged way to save for qualified education expenses.

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Coverdell Education Savings Accounts

Tax-advantaged investment account to save for education and related expenses.

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General Investment Account

Wide range of options available to save for future expenses.

529 College Savings Plans

With a 529 savings plan, you can save for anyone – your child or grandchild, a niece or nephew, a friend or even yourself. These plans, generally sponsored by individual states, provide a tax-advantaged way to save for qualified higher education expenses. 529 plans can also be used for withdrawals up to a limited amount for qualified elementary and secondary education expenses.

There are no income limits on what you can contribute. Plan assets are professionally managed by independent investment firms or state government agencies, and may be invested in a variety of mutual funds and age-based portfolios offered through different mutual fund companies.

Coverdell Education Savings Accounts

Save for your child’s qualified elementary, secondary and higher education expenses. Set money aside to grow tax deferred until distributed when the child reaches 18 years of age. There are also certain contribution and income limits you need to consider, and withdrawals must be used for qualified education expenses before the beneficiary turns 30, otherwise income and penalty taxes may apply.

WealthyMinds shares insights for your financial well being with a feature in this issue on college savings

College Savings: Negotiating the Labyrinth in Newly-Volatile Markets

The return of volatilty in the investment markets may or may not prove long-lived this time around, but college savers don’t want to take the risk: They may need to call upon their accounts to produce for their children or grandchildren in the next few years, and they don’t want to face the prospect of severe account depletion.

We're here to help!

People’s United Advisors, Inc. helps institutions, employers, and individuals and their families navigate investment, trust, retirement, banking, and planning challenges.

Our experienced professionals work as a team, bringing specialized knowledge and solutions to the conversation.

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Call us at (800) 392-3009 to schedule an appointment with a Financial Advisor.

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Investment products are offered through People’s United Advisors, Inc., a registered investment advisor. People’s United Advisors, Inc. is a wholly-owned subsidiary of People’s United Bank, N.A.

Investment Products are:

• Not Insured by FDIC or any Federal Government Agency
• Not a Deposit of or Guaranteed by a Bank or any Bank Affiliate
• May Lose Value

ADV Part 2A-2B - Privacy Policy - Legal Disclosure

Morningstar Investment Services, Inc, is a registered investment advisor and wholly owned subsidiary of Morningstar, Inc. Morningstar® Managed PortfoliosSM is offered by Morningstar Investment Services, Inc., a registered investment advisor, and is intended for citizens or legal residents of the United States or its territories. This program can only be offered by a registered investment advisor or investment advisor representative. Morningstar Investment Services is not affiliated with People’s Securities, Inc.

*Qualified withdrawals include tuition, room and board, books and other educational expenses.
Withdrawals for non-qualified expenses are subject to income tax and may face a 10% federal tax penalty on earnings.

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