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EFO5 |
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50 Main Street
Mt. Kisco, NY 10549
Tel: 914-244-4400
Fax: 914-244-0088
Branch Office
Somers, NY
10589
Tel: 914-276-7878
We Do
EVERYTHING Monetary |
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Page 1, 2, 3,
4,
5, Form
financial professional or research the issue independently at your local
library with a resource such as Peterson's Guide to Four-Year Colleges. As a
guideline, total annual costs for the 1996-99 school year averaged $10,458
for public schools and $ 22,533 for private schools*. Caution: The
particular
school that you are planning for may cost significantly more or less.
ED(8) Enter the rate at which you anticipate the school's costs to increase
annually. Since 1980, college costs have increased significantly more than
the general inflation rate. The inflation rate over the past 15 years has
averaged 30% as measured by the Consumer Price Index (CPI). In I I of those
years private college costs have increased two or three times faster than
the CPI.*
Over the 5 years (1990-95), average college costs have risen 5 to 6%, while
the CPI has averaged 2.4%
*Source: The College Board Annual Survey of Colleges, 1998- 1999
Current Funding
Notes: ED(9) Enter the current balance of an taxable funds you have
designated specifically for this child's education. If you are planning for
more than one child, do not include funds allocated for other children.
ED(10) Enter the rate of return you anticipate earning on existing or
planned taxable education funds for this child. Do not factor in taxes.
ED(11) Enter your anticipated tax rate applicable to this child's taxable
education fund.
ED(12) Enter the annual amount that you plan to add to this child's taxable
education fund.
Start in # of Year-, Enter the number of years from now that you will begin
these additions. If now, enter 0 as start year.
ED(13) Enter any lump-sum amount that you plan to add to this child's
taxable education ftind.
Add in # of Years: Enter the number of years from now you will be adding
this lump-sum. If now, enter 0 as start year.
ED(14) Enter the current balance of any tax-free plans you have designated
specifically for this child's education. Use this plan for Education IRAs,
Cash Value Insurance from which you plan to take tax-free loans, etc.
ED(15) Enter the rate of return you anticipate earning on this tax-free
education plan.
ED(16) Enter the annual amount that you plan to add to this child's tax-free
education fumd.
.Child #1
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