529 College Savings Plans

What Is a 529 Plan?
A 529 plan is a state-operated investment plan that gives families a federal tax-free way to save money for college. Authorized by Congress in 1996, they are officially known as qualified tuition programs (QTPs), but commonly referred to as "529 plans," "state 529 plans," or "section 529 plans" after the section of the IRS code that provides the plans' special tax breaks.¹

Which Plan is Right for You?
A college savings plan may offer you more options than a prepaid tuition plan. The savings method gives you much greater flexibility in college choice, an important advantage considering that a savings plan can begin 10-15 years or more before the college selection process gets underway. (If you like the idea of prepaid tuition, you can do this through a college savings plan by using four years of in-state public tuition as your savings goal).¹

What will College cost?
Whether your child will be attending a public or Ivy League college/university, a 529 plan is essential for combating rising tuition costs. If you’re concerned about giving your children the education they deserve or if you’re curious about what a particular institution will cost when the time comes, simply click here to receive your free College Savings Planner. You have nothing to lose and their education to gain.

1 Source: College Board, “Saving for College”