An education is one of life’s most powerful tools. At Comerica we understand the financial demands and intricacies of planning for an education. Whether public, private or secondary school is the desired goal, Comerica specialists will work with you to conduct a funding analysis of the future education expenses of your children or grandchildren and make it part of your overall wealth plan. Comerica can give you more than education funding solutions — we can help you give someone in your life an invaluable opportunity.1
Planning options to consider include:
Whether a prepaid tuition or a college savings plan, this plan may be used for education-related expenses at all accredited colleges and universities. Any person, married or single, relative or non-relative can easily contribute. Plan details differ from state to state.
Uniform Gifts to Minors Act and/or Uniform Transfers to Minors Act
Where state laws permit, you can make an irrevocable gift by transferring funds to a child for educational or any other purpose. Specific provisions may vary from state to state.1
Full or partial scholarships are often available through colleges, businesses, foundations and community groups. A scholarship may be based on academic merit or need.
Individuals with income under certain limits may qualify for the America Opportunity Tax Credit or the Lifetime Learning Credit.1