In today’s economy, paying for college is something that many families worry about. We’re here to help you get a head start.
College Plan is a simple way to guarantee funds for your child’s higher education needs. At the same time, it provides adult life insurance protection for your family now.
Getting help from Gerber Life is just one piece of the college-planning puzzle. You’ll also want to explore ways to save money and keep your child on track academically.
Starting early is key, so let’s jump in!
Focus on financial planning while your child is still young
There are several ways families pay for college, including scholarships, grants, and loans. First, find out which of those options may work for your family, and then determine how much money you’ll need to fill the gaps. Due to the rising cost of higher education, it’s important to put money aside as soon as possible.
Unlike a traditional savings account or an investment account which don’t guarantee a payout, you can secure a guaranteed payout of $10,000 to $150,000 with an endowment life insurance policy such as the Gerber Life College Plan. Once the policy matures, you can use the payout money to help cover college expenses – or anything else your child needs for a successful future. The College Plan places no restrictions on how the money is used.
While you’re building a financial plan for college, you can work on taking an active role in your child’s education. Read, play, and talk with your child about schoolwork. Encourage participation in extracurricular activities. Help your son or daughter to find and develop talents and passions.
Focus on academic goals as your child gets older
Things can get busy for you and your child in high school, so follow this tried-and-true timeline for staying on track:
Help start your child off right in college
Remember that Gerber Life College Plan you bought when your child was young? When your policy’s term ends, you will receive a guaranteed payout for your child of the amount pre-selected by you. Your child could use it for textbooks, tuition, transportation, or any other expenses that may come along.