Practice Quiz

Financial Planner

Category - Education Planning

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What must be considered with completing a needs analysis for a family saving for a child’s tuition?
  1. Where the child will go to college
  2. Where the family lives
  3. What year the child was born
  4. The age the child will attend college
Explanation
Answer: D - When completing a needs analysis for a family saving for a child’s tuition the age the child will attend college must be included. In addition to what age the child will attend college, the parents’ after-tax earnings rate, the inflation adjusted interest rate, the current cost of tuition, and the rate of tuition increase must also be evaluated.
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