Broker Check
Crowdfunding for College?

Crowdfunding for College?

May 01, 2023

What is Crowdfunding?  Most likely, you have seen or heard of a GoFundMe appeal.  Someone presents a need and then asks friends and family to donate and share with their circle of influence. This concept is going to a "crowd" and asking for financial support thus the term Crowdfunding.

So your next question is most likely how is that a planning tool for college? Some investment firms have taken the idea and created opportunities around 529 plans that make it easy for grandparents, aunts and uncles, godparents or anyone else to contribute to your education savings plan.

If you are constantly being asked what does Suzie or Jonny want for their birthdays or Christmas, this may be a great option for your family.  Instead of buying a toy that will be forgotten about in weeks - if not days- your family can give a gift that can grow over the course of years of investment.  Of course, depending upon the amount and frequency of the gifts; it could make a sizeable dent in your college costs.

If you would like to learn more about this type of planning for higher education please call the office!  We would love to help you plan for tomorrow!