It's important to know about the three proven ways to protect your family's financial security: insurance planning, education funding, and financial education. Learn more about education funding below.
Smart money tips
Remember, it's never too late to start saving! Even a small amount saved can help offset college costs.
Start as early as possible to take advantage of the following:
- Save and invest using smaller, more convenient amounts
- Increase your money's growth significantly with compounded interest
- Reduce or eliminate the need to borrow
- See saving as a current need — not a future wish — by paying yourself first
- Set up an automatic transfer so you won't miss the money
Tools and accounts
Consider these flexible, tax-advantaged ways to save and invest for education expenses:
- Education Savings Accounts (ESAs), with FDIC-insured savings and time accounts (CDs) offered by Wells Fargo Bank, N.A., a member of the FDIC, or a Wells Fargo Advisor WellsTrade® online brokerage account
- A variety of 529 College Savings Plans, available through Wells Fargo Advisors
- Savings Accounts and Time Accounts (CDs)
- Take a look at the range of Student Financial Tools available online.
- Find a Loan Tool
- Private student loans: For undergraduate education, medical and graduate school, and technical training
- Wells Fargo Student Loan for Parent: For parents or sponsors who want to help cover college education expenses can borrow up to $25,000 annually. This loan is available if the student is enrolled less than half-time, or didn’t complete the FAFSA and can be used in addition to Federal Stafford Loans.
- Home Equity Loans
- What to expect in the loan process and what you’ll need to get started
- For more information about tax-advantaged ways to save and invest for education, ask a banker for the helpful brochure Educational Funding Opportunities.
- For more information about education, ask a banker for the brochure Student Loan Solutions for College.