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Education Savings Plan

With the First Citizens Education Savings Plan (ESP) you can get a head start and establish a clear path toward your child’s higher education.

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Offset your borrowing costs tomorrow by saving today

We all want the best for our children and that includes the benefits of a higher education. But paying for it takes planning and commitment. Right for you if:

  • You want to provide your children with the benefits of higher education
  • You need additional funds to pay for your child’s post-secondary education
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Additional Features

  • Opening an ESP makes you eligible for borrowing rate discounts when you take out a future education loan to help pay for your child’s post-secondary education.
  • The longer you save, the higher the discount.
  • The amount of the discount is based on the length of time the plan has been active, with the earned loan discount rate growing over the course of the first five years the ESP is opened.
  • Offset your borrowing costs tomorrow by saving today.

Mobile Banking App Available

Apple
Time in the ESPLoan Discount Earned1 (off posted rates)
1 year5%
2 years10%
3 years15%
4 years20%
5 years25%
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