Do you know what a 529 plan is? Do you know how to use it?

When you hear the word “college,” what do you think of?

If your child chooses to get a private student loan, they will most likely need to have a co-signer.

Planning for significant life transitions is central to financial planning. As recent first-time parents, we can say with confidence that there may be no greater transition in life than starting a family.

On Friday, the Biden administration announced that it will extend the student loan pause, which was previously set to expire at the end of September, to January 31, 2022.

Building a healthier financial life, means striking a balance between living for today, while preparing for tomorrow.

Update: On December 22, 2021 the pause on federal student loan repayments was extended for an additional 90 days — through May 1, 2022.¹

Investing in your child's education now could help prepare you for those expenses later by saving in a 529 College Savings Plan.