Products: College Savings Plans
First Minnetonka Investment Center (FMIC) can help you develop a college savings plan to set aside money for your children’s education based on how much you can save and whether you want to provide a lump sum or make monthly investments. Tax law changes have increased the opportunities for tax-advantaged savings and there is more flexibility in managing college savings plans.
First Minnetonka Investment Center (FMIC) offers a variety of education saving accounts. In addition to the traditional UTMA/UGMA (Uniform Trust/Gifts to Minors Accounts), we offer the Coverdell Education Savings Accounts and Section 529 Plans. You can also save money on education-related expenses and loans through tax credits and deductions such as Hope Scholarship Credit, Lifetime Learning Credit, and Student Loan Interest Deduction.