Education Planning

What Is A 529 Savings Plan?

A 529 plan is a tax-advantaged savings plan designed to encourage saving for future education costs. 529 plans, legally known as “qualified tuition plans,” are sponsored by states, state agencies, or educational institutions and are authorized by Section 529 of the Internal Revenue Code.

There are two types of 529 plans: prepaid tuition plans and education savings plans. All fifty states and the District of Columbia sponsor at least one type of 529 plan. In addition, a group of private colleges and universities sponsor a prepaid tuition plan.

What Are The Benefits of A 529 Account?

Tax Benefits
High Investing Limits
Low Maintenance
Possible Financial Aid Treatment
Financial Flexibility For All Families

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Other Resources

Getting a Head Start on College Savings

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What Can You Buy With 529 Distributions?

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Help your college-bound child explore scholarships, grants, and more with this article on paying for higher education.

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