For this reason, many persons are now using variable
universal life insurance as a funding vehicle for education.
DISQUALIFICATION FOR AID PROGRAMS
You should be aware that money in the name of a child, whether it was earned
and saved, received from a relative or the result of an investment gain, may
reduce aid qualification. The formula mandated by Congress, and used by most
schools (generally referred to as the Congressional Aid Formula) penalizes
those students who have money. This might prompt you to use life insurance
or an annuity as the education investment, since these do not count
negatively in the Congressional formula.
Fill out form for each Child. All information is
held in strictest confidentiality and never given to a third party.
ED(l) Child's Name:
ED(2) Current Age:
ED(3) Percentage of Funds to Provide:
%
School Information
ED(4) School Name:
ED(5) Age to Start:
ED(6) Attend for # of Years:
ED(7) Todays Cost per Year:
ED(8) Annual Cost Inflation:
Current Funding
ED(9) Taxable
Education Fund Balance:
ED(I 0) Before Tax Rate of Return:
ED(l 1) Education Fund Tax Rate:
ED(I 2) Annual Fund Additions:
Start in # of Years:
ED(I 3) Lump-Sum Addition Amount:
Add in the # of Years:
ED(14) Tax-Free Education Plan Balance:
ED(I 5) Rate of Return:
ED(I 6) Annual Plan Additions:
%
%
%
Comments:
I Will
contact Schnur College Financial at 914-244-4400 to discuss my results.
I would
like Schnur College Financial to contact me at the phone number and time
indicated below.
Contact Name*
Phone Number*
Email:*
Weekday
Time
* Required Field
Instructions:
This data-guide is designed to assist you in planning for the funding of an
education for your children and/or grandchildren. It addresses the basic
question: 'How much money do I need to save, and for how long, in order to
provide the desired level of financial assistance necessary to Fund an
education.
Basic Information:
Notes: ED(l) Enter the name of the child for whom you are planning.
ED(2) Enter the current age of this child. You may enter an age in negative
years to plan for children not born yet. For example, if you plan to have
children in two years and wish to begin planning now, enter -2.
ED(3) Enter the percentage of the child's total education costs that you
wish to provide for. If you desire to provide the child with all the
required funding for their education, enter 100. You may also factor in any
loans, grants, scholarships, gifts, and work-study programs that will cover
a portion of school expenses. As an example, if you anticipate a scholarship
to cover one quarter (25%) of the expenses and you desire to furnish the
remaining amount, enter 75.
School Information:
Notes: ED(4) Enter the name of the school that you are planning for this
child to attend. If you do not have a specific school in mind, you may leave
this entry blank.
ED(5) Enter the child's age to begin this school. Do not enter an age less
than the current age. If currently attending school, enter current age as
the start age.
ED(6) Enter the number of years this child will attend this school. You may
enter from 1 to 6 years.
ED(7) Enter the total annual costs to attend this school today. Include
tuition, room & board, transportation, books and other expenses. If you do
not know what these costs are, contact the schools in question directly,
consult with a (cont)
