5 Tools to Help You Save for School
Investing in your child's future education can be a daunting task, but you don’t have to figure everything out on your own.
Virginia529 makes it easier with a suite of tools that can help you estimate college savings goals, compare savings options, and understand the cost of attendance, among other things. Here are five tools to try out when planning to save.
1. College Savings Estimator
The College Savings Estimator calculator can help you predict the cost of attendance for a four-year college based on your child's age, your savings goal, and the type of school your child is interested in attending. It will also consider any scholarships or grants your child may receive to help cover the costs. This tool is incredibly helpful for parents (or advisors) who are just starting to think about saving and need a starting point.
2. Cost of Waiting Calculator
This calculator helps you determine roughly how much more money you’ll need to put away every year you delay saving for college. Enter in your state, estimated years until the student’s college enrollment, and even a specific school type (including four-year public, four-year private, community college, and more) to get started.
3. Financial Aid Calculator
The Financial Aid Calculator helps families gain insight into a student’s potential financial aid eligibility and estimate your family's Expected Family Contribution (EFC) for the current school year.
4. Tuition Track Calculator
The Invest529 Tuition Track Portfolio is a unique investment option that provides Virginia families with the security of knowing their investment will keep pace with the rising costs of college tuition in Virginia . This calculator offers three different ways for families to plan their savings strategy in this unique portfolio based on your budget or savings goals.
5. Portfolio Selection Assistant
Invest529 offers a diverse selection of more than 20 investment portfolios designed for savers. Use the Portfolio Selection Assistant to narrow down the option that works best for you and your family based on your budget or savings goals.
Looking for additional help? Check out the Smart Savers Academy to register for a live webinar, or watch on-demand videos about saving for your education needs, opening an Invest529 account, using your account benefits, and more.