Build a tuition fund for your child, grandchild, or even yourself. An Associated Bank relationship manager can guide you through the merits and tax advantages of three popular choices for college savings. As to any college savings choice mentioned below, remember that adverse tax consequences may apply if withdrawals from the plan or account are not used for educational purposes.
Choose a state-sponsored college tuition fund, also called a municipal security, to help beneficiaries of any age save for college. 529 college savings plans are extremely flexible and allow substantial contributions, with guidelines that vary from state to state.
An investor should consider the investment objectives, risks, and charges and expenses associated with municipal fund securities before investing. More information is available in the issuer’s official statement. Investors can obtain an official statement from their Associated Investment Representative or by calling Associated Investment Services* at 800-595-7722. The official statement should be read carefully before investing.
Open a Coverdell account for beneficiaries under age 18 and contribute up to $2,000 a year. Earnings are tax-free when used for qualified elementary, high school or college education expenses.
Transfer assets to a minor, who as owner is likely to pay less in taxes. The assets must be used for the child’s benefit, until he or she takes control at age 18 or 21.
*SECURITES AND ADVISORY SERVICES ARE OFFERED BY ASSOCIATED INVESTMENT SERVICES, INC. (“AIS”), member FINRA and SIPC, d/b/a Associated Investment Services Group in Minnesota. • Securities offered are NOT deposits or obligations of, insured or guaranteed by Associated Banc-Corp ("AB-C") or any bank or affiliate, are NOT insured by the FDIC or any agency of the United States, and involve INVESTMENT RISK, including POSSIBLE LOSS OF VALUE. • Advisory services may not be available in all locations. • Associated Bank, N.A. and AIS are affiliates of AB-C.