Patent ID: 8005742
Filing Date: 2011-08-23
Classification: G06Q

Abstract:
1. A method for analyzing college savings plans, comprising: storing, on a computer-readable medium, a plurality of educational institution identifiers and a plurality of educational savings plan parameter sets, wherein each educational institution identifier is associated with a cost parameter set and each educational savings plan parameter set indicates one or more financial characteristics of a corresponding educational savings plan; receiving an educational institution identifier; retrieving the cost parameter set associated with the educational institution identifier; generating, by a computer, a comparative analysis of a plurality of educational savings plans by (i) applying the retrieved cost parameter set to the educational savings plan parameter set and (ii) determining one or more tax considerations for each educational savings plan, wherein the tax considerations comprise taxing a withdrawal of funds from the educational savings plan at a first rate if the withdrawal is used for a non-educational expense and at a second rate less than said first rate if the withdrawal is used for an educational expense; and generating a report of the comparative analysis that presents an amount of assets in the educational savings plan for each year of a savings period.