SERVICES / EDUCATION PLANNING
Big possibilities.
A plan to help get there.
Education opens doors. A practical college plan brings savings, school costs and financial aid into one conversation, so your family can prepare without losing sight of other important goals.
College planning includes more than tuition. Consider housing, books, transportation and the likely years of study. Then compare available savings, ongoing contributions, grants, scholarships, work-study and borrowing.
01
Set an education goal, estimate a range of school costs and establish a sustainable savings approach. Compare account costs, investment risks and current tax rules with qualified professionals. Revisit the plan annually as income, goals and school preferences change.
02
Build a school list, compare net-price estimates and scholarship opportunities, and reassess investment risk as enrollment approaches. Review each school’s aid requirements and deadlines. Discuss how savings and borrowing fit alongside retirement and emergency reserves.
03
Complete the applicable FAFSA and any additional school forms when available; verify current deadlines with Federal Student Aid and each school. Compare grants, work-study and loans separately. Before paying bills, coordinate eligible expenses, account withdrawals and tax benefits with qualified professionals.
MAKE AN INFORMED CHOICE
Ask your financial professional: What costs, investment risks and access restrictions apply? How should the savings approach change as enrollment nears? Ask your tax professional: Which expenses qualify under current rules, and how should withdrawals and education credits be coordinated? Ask the school’s aid office: Which forms, deadlines and renewal requirements apply?
Bring savings balances, expected family contributions, school net-price estimates, existing loans and a realistic household budget. Ask how account ownership and withdrawals may affect aid. DMD helps organize the conversation and related insurance needs; investment, tax and aid advice comes from the appropriate qualified professional.
KNOW YOUR OPTIONS
Use these independent education resources to compare savings and aid. DMD can help you organize the conversation; investment or tax recommendations require an appropriately qualified professional.
Official FAFSA information and explanations of grants, work-study and federal loans.
The SEC’s guide to 529 plan choices, costs and investment considerations.
Education tax information, including qualified tuition programs.
External resources are provided for education. Services, eligibility, costs and terms are set by each provider. Company names and logos belong to their respective owners.
Education savings investments can lose value. Prepaid plans have their own terms and guarantees. Review the specific plan’s disclosure rather than assuming all 529 plans work alike.
529 contributions are not deductible on your federal income tax return. State benefits vary, and qualified distributions may receive favorable tax treatment.
Options may include changing beneficiaries or other permitted transfers, subject to rules. Nonqualified withdrawals can have tax consequences. Review the plan and current rules before taking funds.
Life insurance primarily addresses a protection need. Costs, funding, loans and lapse risks differ from education savings accounts. Compare each on its own merits rather than treating them as interchangeable.
FOR DMD AGENTS
Identify education goals and family protection needs separately. Coordinate with qualified investment, tax and financial aid professionals. Avoid promises about grants, aid eligibility, investment returns or tax-free access to policy funds.
Let’s talk about the people and plans you want to protect. Our team can help you understand your choices and take the next step with confidence.
General education only. DMD does not guarantee financial aid, investment results or tax benefits. Securities and investment advice require appropriate licensing. Consult qualified investment and tax professionals.
LEARN MORE: Federal Student Aid ↗ / SEC 529 plan guide ↗ / IRS Publication 970 ↗