College - Knoxville TVA Employees Credit Union

Educational Savings Account ¹

Want to save before your child starts college? Try our Educational Savings Account!

A college or trade school education can offer job opportunities, important skillsets, and increased wages, but these benefits come at a price, and that price increases more and more each year. Be prepared for future education expenses with an Educational Savings Account.

The Educational Savings Account is an dividend-earning savings account for use on future education costs. The account must be open for a minimum of three years and is paid out on the child’s first day of college or 18th birthday, whichever comes first.
Any withdrawal from the Educational Savings Account before these dates will close the account and result in a penalty (some exceptions may apply.)

You can open an Educational Savings Account over the phone or at any of our branches. Open an account now!

BRANCH LOCATIONS VIEW RATES

Estimating College Costs

It’s hard to know just how much you will need for your child’s education, especially if their college start date is years away.

Use our savings calculator to get an estimate of how much you will need to save.

SAVINGS CALCULATOR

Grandparents, Family & Friends Can Help!

As college and trade school tuition becomes more expensive, family and family friends are stepping up to help cover the costs. Grandparents, godparents, uncles, aunts and close family friends want to help their young students get the opportunity to further their education. KTVAECU makes it easy with our Educational Savings Account. When you open this account, grandparents, parents, family and family friends can make regular deposits anytime to make sure their loved ones are are prepared for future tuition needs.

LOCATIONS

Tennessee Resources

Tennessee Student Assistance Corporation

It's hard to talk about college without mentioning financial aid. In many cases, financial aid may be the deciding factor in whether or not a child attends the college of his or her choice, or even attends college at all. That is why it is important to develop a basic understanding of financial aid before a child applies to college. Without such knowledge, you may have trouble understanding aid determination, filling out the proper aid applications, and comparing the financial aid awards a child receives.

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Additional College Resources

Paying for college doesn't have to be scary or intimidating. But it does require some research and planning. Here's some information from GreenPath University ² to help you save for college, apply for student loans, apply for grants, apply for scholarships and repay student loans.

College 529 Savings Plan - Learn the advantages and disadvantages of using 529 plans vs. pre-paid tuition plans to save for your child's college education.

FAFSA - Applying for Student Aid - The first step in applying for student financial aid is to complete the Free Application for Federal Student Aid (FAFSA).

Grants for Students - Student educational grants do not have to be repaid, and may be based on financial need, merit, or a variety of other factors.

Scholarships - Ideas for researching scholarships offered by colleges, the military, and private organizations.

Student Loan Repayment Programs - If you are having trouble making your monthly student loan payment, learn more about your student loan repayment options.

Student Loans - Basic explanation of the main types of student loans available, including Stafford loans, Perkins loans, parent loans, and private loans.

LEARN MORE AT GREENPATH UNIVERSITY

Disclosures

¹ APY = Annual Percentage Yield. Rates current as per posted rate schedule. No minimum opening deposit. Must be open for a minimum of three (3) years and pays out on your child's college entrance date or 18th birthday, whichever comes first. Fees could reduce the earnings on the account. Available to qualifying Members. Some restrictions may apply. Ask for details.

² GreenPath Financial Wellness is a third-party partner to Knoxville TVA Employees Credit Union. Must be a Member in order to receive free assistance. These services are optional and are not an obligation or guarantee by Knoxville TVA Employees Credit Union or its affiliates. GreenPath Financial Wellness is a trademark of GreenPath, Inc.