| n rr n The Earlier The Better For College Savings (NAPSA)—Not only does a college education expand the mind and open the door to added opportunities, it can earn a graduate $1 million more over a lifetime than a high school graduate, according to national reports. However, with the cost of a college education rising faster than inflation each year, many families wonder how they will pay forit. fe The answer is to begin saving through a 529 college savings plan early. Through state plans, such as the Florida College Investment Plan, families can accumulate significant savings. “With a 529 plan, families have By starting early and contributing to a tax-deferred savings plan, it’s possible to make college costs more manageable. a financial tool to save for future When the student is ready for college, withdrawals for qualified paid College Board. “While college seems expensive, through a dedi- federal incometax. When yourchild is ready to higher educationis attainable.” for qualified educational expenses college expenses,” said Ted Hoepner, Chairman of the Florida Pre- cated investment schedule, a The Florida College Investment Plan is a college savings program, authorized by Section 529 of the Internal Revenue Code, which allows the money you contribute to grow tax-deferred. The Florida College Investment Plan has no residency requirements and permits anyone to invest. However, for those not residing in Florida, other states may offer in-state plans that grant tax and other benefits to residents. It is recom- mended that you consult a tax advisor before investing in any state’s 529 plan. college expenses are exempt from enter college, your savings can pay such as tuition, dormitory, books and off-campus housing at anyeli- gible education institution. Families may enroll in 529 plans at any time and somestates make investing easy. For example, families may enroll in the Florida College Investment Planforaslittle as $25 per month through automatic withdrawals from a checking or savings account. To learn more about the Florida College Investment Plan, visit www.florida529plans.com/ savings or call toll free (800) 552- GRAD.
