Education Planning

The cost of education has increased dramatically over the years. As private school and college tuition and expenses continue to grow annually, families should have a proper plan in place to pay for their children's education expenses. There are an array or tax-efficient opportunities available. and with the help or our Financial Advisors, you can address the challenges of education funding.
 

Oppenheimer offers a range of options to finance your child’s education. The different plans can provide tax benefits, estate planning benefits and fit well into your overall financial strategy.

Education funding options

As a parent you should consider several issues before deciding how to finance your children's education expenses. Our Financial Advisors can work with you to help determine which option will best meet your needs.

A 529 college savings plan allows for high contribution limits up to $300,000, depending on the type of plan you choose and state contribution limits. This enables you to move significant assets out of your taxable estate over time.

Another option for funding higher education is a Coverdell Education Savings Accout (ESA), which can also be used for elementary and secondary school education expenses. The annual limit on a Coverdell ESA is $2,000.