Explore strategies that will help make it last.

The cost of education continues to rise, and for many families, helping children or grandchildren pay for college is one of the most meaningful goals they can achieve. Whether you want to fully cover tuition or simply provide a financial head start, it’s important to have a clear plan that aligns with your overall financial picture.

The rising cost of education

Tuition, fees, and room and board have tripled over the last three decades,1 and even public institutions now represent a significant financial commitment. While scholarships and financial aid can help, the reality is that most families will still shoulder a considerable portion of the expenses. Starting early and saving strategically can make a world of difference when those college bills begin to arrive.

Understanding your options

There are several ways to save for education, and each comes with unique benefits and considerations. A 529 college savings plan, for instance, allows you to save for future education expenses on a tax-advantaged basis, with the flexibility to use the funds for tuition and housing. Meanwhile, some families explore Coverdell Education Savings Accounts that allow broader investment choices but don’t offer the same tax benefits.

Each approach has implications for financial aid eligibility, investment growth, and ownership structure. Choosing the right one requires an understanding of how these features align with your goals, regardless of whether you’re saving for one or multiple children, grandchildren, or even your own continuing education.

Creating a strategy that works for you

An education funding strategy should fit within your broader investment plan. For example, you might balance education savings with your retirement planning to help ensure both goals stay on track. You may also want to consider how gifts from family members, tax credits, or future changes in education costs might affect your plan over time.

An experienced financial advisor can help you evaluate your options and develop a savings strategy that reflects your priorities, your risk tolerance, and your family’s unique circumstances. Together, you can determine how much to save, how to invest the funds, and how to adjust your plan as your children or grandchildren grow closer to college age.

Plan with confidence

Every family’s path to funding education looks different. Whether you’re just welcoming a new child or grandchild, or you’ve celebrated someone’s first double-digit birthday, it’s never too early or too late to begin planning. Having a strategy in place can help reduce stress, improve financial confidence, and allow you to focus on what truly matters: supporting the next generation’s opportunities and potential.

If you’d like help finding an education funding option that fits your needs and your family’s goals, contact our office today. We can walk you through the available choices and create a plan that helps you save wisely for the future you envision.

_{^1. Bankrate, “Average cost of college 2024-2025,” 28 July 2025}

_{Wells Fargo & Company and its affiliates do not provide tax or legal advice. This communication cannot be relied upon to avoid tax penalties. Please consult your tax and legal advisors to determine how this information may apply to your own situation. Whether any planned tax result is realized by you depends on the specific facts of your own situation at the time your tax return is filed.}

_{Please consider the investment objectives, risks, charges and expenses carefully before investing in a 529 savings plan. The official statement, which contains this and other information, can be obtained by calling your financial advisor. Read it carefully before you invest. The availability of such tax or other benefits may be conditioned on meeting certain requirements.}