Education Accounts

PNC Wealth Management Offers a Number of Plans to Help Save for College

Why Education Accounts?

Rising tuition costs can make it difficult for even the most diligent of savers to cover 100 percent of a child’s education expenses. That’s why it’s important to plan for educational needs as early as possible. PNC Wealth Management can help guide you with an investment approach aligned with your situation and goals.

Education Savings Accounts

529 Plans

A 529 plan is a tax-advantaged investment vehicle (typically sponsored by states or state agencies) designed to encourage saving for the future education expenses of the plan’s beneficiary. They can be used to pay for qualified education expenses at most accredited colleges and universities, as well as tuition expenses at both public and private elementary and secondary schools (K-12).[1]

  • Investments accumulate tax-deferred
  • Qualified withdrawals are not subject to federal (and some state) income taxes
  • You can change the plan’s beneficiary at any time
  • Substantial maximum contributions are permitted (over $300,000 per beneficiary in many state plans) and, generally, there are no income limitations or age restrictions

Custodial Accounts (UTMA)

A custodial account under the Uniform Transfers to Minor Act (UTMA) allows you to save for your child or grandchild's future higher education needs.

  • Anyone over 18 can open an account; no restrictions or qualifications to be met
  • Allows for unlimited contributions and unlimited contribution amounts
  • You control all investment decisions
  • Beneficiary gains control of the funds when he/she reaches a certain age

Tools and Resources

Use our tools to stay on track.

College Saving Calculator

Use this calculator to get an estimate of how much you should try to save for your student's college plans.

Retirement Planning Guide

Use our online tool to educate yourself on the different accounts you can use for your retirement planning.

Retirement Calculator

Get a sense of how much you'll need to live in retirement, how your current assets stack up, and if you need to start saving
more for retirement.

Get Started

Your journey toward achieving your goals is at your fingertips

Connect with Us

Share your information
and we'll get in touch.

Call Us

Mon - Fri: 8:30am - 5pm ET

Visit Us

Find a PNC location near you
and stop by to see us.