Thursday, 21 May 2009 10:05
So, have you guys heard of a Coverdell Education Savings Account? How about a 529 plan? Both of these programs are available to help you and your family save money for college expenses. FORUM is coming out with a similar account called Sprout. However, there are a few differences. With a Sprout Account, the money can be used for more than school expenses, like purchasing a car, making a down payment on a home, and more. Plus, FORUM will match 10% of deposited funds per calendar year based on different tier levels. The Sprout Account also offers a competitive interest rate. Like the Coverdell ESA and 529 Plan, certain penalties will apply for early withdrawals or early closure of the account. This account is for people ages 0 to 18, and the funds are released when the person turns 18. More information will be available once the Sprout Account is offered to members. So, what's your opinion on this new account? Is this something you would be interested in?