College Planning

We offer a wide range of college planning solutions for you and your family. Click and option below to learn more.

College Planning Made Easy

Between managing day-to-day expenses, unexpected costs, and long-term goals like retirement, it can be challenging to determine how to save for your child’s education. You need to have a plan in place so that you don’t neglect your own money goals, especially when it comes to your retirement savings. A 529 plan is a tax-advantaged way, we recommend, to put aside money for future education costs and one of the best avenues for saving for your child’s/loved one’s expenses. Withdrawals can be used for qualifying higher education expenses tax free (see list below). Distributions used for non-qualified educational expenses are subject to ordinary income tax plus a 10% penalty on the earnings portion of the distribution. At SmartPro Financial, we are here to help you determine how a 529 plan might work with your overall financial strategy, as well as think through specific questions you might have.

Qualified Education Expenses

  • Tuition and related fees for college, community colleges, theological seminaries, trade and vocational schools, international schools, study-abroad programs that run through U.S.-eligible schools and more. Any accredited institution should be able to accept funds from a 529 savings plan. Find a list of accredited choices on FAFSA
  • College room and board, for students enrolled at least half-time.
  • Books and supplies, including textbooks, paper, pens or additional supplies required by specific classes (i.e., a camera for a photography class).
  • Computers and supplies, including laptops, printers, educational software and internet services.
  • Certain apprenticeship program expenses.
  • Certain student loan expenses (up to a $10,000 lifetime maximum).
  • Due to the recent change in the federal tax code, you may use the funds in a 529 savings plan to pay for K-12 tuition (up to $10,000 a year per beneficiary), but withdrawals for K-12 expenses may not be exempt from state tax in certain states.

It’s never too early to start thinking about a college savings plan. Whether your child is a teenager or toddler, the best time to start a college fund is now. Let’s Talk!

girl, young, student

College Planning Solutions

As an independent advisor I have access to multiple top-rated life insurance carriers. I’ll take the time to compare rates at all the companies we represent to find you the best deal!

Contact Us

Smart Pro Financial – Joshiwa Graham
6710 Professional Parkway West Suite 305 Sarasota, Florida 34240
United States
Phone: (941) 258-1776

Follow Us on Social Media

Schedule a 15-minute phone consultation with Joshiwa to discuss your financial and insurance goals. 

Get a Quote

It only takes a minute to get started.
  • Fill out the form, we’ll be in touch.
  • Review options with an agent.
  • Get the coverage you need.
Skip to content