Education Worksheets

Student Data

To start, choose a Student from the drop down list or click on the Add button at the right of the top container. When adding a student, you can choose to use any person already in the plan, or create a new one. Adding a new student will also create a new beneficiary in the plan. Choosing a student from the drop down and clicking on delete will delete the student but will not remove the beneficiary. To delete beneficiaries go to the General Information tab in the Client Data worksheet. Removing a beneficiary which is also a student will delete the student as well.


Once you have either chosen or entered the student you want to work with, you may enter the name of the school they plan to attend or look it up by clicking on the Details button next to Collage Name field. This will open a pop up where you can browse a list of colleges which also has tuition information provided by Peterson’s for colleges in US and Canada. Once the school is chosen, the annual tuition input will be automatically populated with the sum of annual tuition room and board and other fees.

Start Age represents the age of the Student when the school starts. You may modify the number of Years in College and specify an alternative Annual Tuition Increase rate. Any other expenses associated with the education may be entered in the Other Annual Costs or itemized by clicking on the Details button next to the field.

Education Savings

Here you may enter information for taxable and tax-advantaged accounts dedicated for the current education goal. You may enter money saved to date in Taxable, Education IRA and 529 Plans in the corresponding Account Balance fields.


Annual Contributions for Education Account are setup in such a way that allows specifying contributions to come from the Client or from other sources outside the plan (like money from grandparents etc.) If the contributions are coming from the Client, it will be accounted for as an expense in the Retirement and other modules.

Contribution Start Age is set by default to the age of the student when he/she starts school. It can be changed in the Account Detail screen.

You may enter a projected Rate of Return for taxable and tax-advantaged accounts and proceed to the next tab or click on the Details button next to each account to enter allocations for these accounts.

Other Resources

Education needs may be funded by assets available in the dedicated educational savings accounts as well as by any other incomes during years in school. You may specify the Cash Flow Name (like Part-Time job, Education grant, etc) and enter the annual amount inflows in the Amount field. Make sure to set the proper Start Age and Number of Years (# of Years) for a given inflow. Start Age is assumed to be the age of the student when he/she goes to school.


Optionally, you may specify an increase rate for the inflows in the Incr. Rate field.

General assumption for the Education planning module like Inflation and Client’s Tax Rate can be modified at the bottom of the section.

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