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Is a college education in your child's or
grandchild's future? Saving for college is now much
easier -- and more financially beneficial -- thanks to 529
plans.
A 529 plan is a tax-advantaged savings plan sponsored by state and
education institutions. 529 plans have both federal and state
income tax benefits. When you withdraw money from your 529
plan to pay for college, you don't pay federal income tax on the
earnings. Typically you don't pay state income tax
either. Some states even offer other benefits when you invest
in a 529 plan.
Most state 529 plans are open to anyone regardless of which
state you live in. But keep in mind that you likely need to
invest in your state's 529 plan to get state tax benefits.
Another key benefit is low costs and low minimums -- many 529
plans let you make contributions of $25.
Since 2005, 529s.com has been the
leading resource for 529 plans. The site helps you
understand 529 plans and has a state-by-state breakdown of college
saving plans to help you find the best plan. You can also
contact a local professional to help you plan for your kid's
education.
> 529 plan overview
> Review all 50 states'
529 plans
> Find a
529 advisor
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529s.com is your resource for
saving for college. Find out why a 529 plan may be the ideal
way for you to save for college. 529 plans offer significant
tax benefits and have the flexibility necessary to plan for an
expense that may be more than a decade
away.