Section 529 Plans

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529 College Savings Plan Contribution Limits

Contributing to a 529 plan may seem quite simple — you write the check or get the money automatically withdrawn from your checking account, and those funds get deposited into the 529 plan. [more…]

Higher Education Expenses That Qualify for 529 College Savings Plans

Parents (and other relatives) who fund Section 529 plans need to be very conscious of what constitutes a qualified higher education expense and what doesn't. The following table lists qualifying higher [more…]

Tax-Deferred Ways to Save for College

Saving money for college (yours or your children’s) is a good thing, even when financial times are tough. Uncle Sam backs up that college-investment philosophy with a variety of savings programs that contain [more…]

How to Calculate 529 College Savings Plans Qualifying Distributions

Assuming that your designated beneficiary is a qualified student and is incurring qualified expenses, you now need to figure out just how much of a distribution you should make from your Section 529 plan [more…]

Advantages of 529 College Savings Plans over Prepaid Tuition Plans

A Section 529 savings plan is, in many regards, an investment account. Although states may establish the rules, most of these state-sponsored plans are actually administered by mutual fund companies, or [more…]

529 Guaranteed College Savings Plan Guarantees Return on Investment

A few states have started a movement to meld 529 prepaid tuition plans and 529 savings plans into a hybrid: the guaranteed savings plan. Guaranteed savings plans follow all the rules and requirements of [more…]

Qualifying Criteria for 529 College Savings Plans

Section 529 plans seem to be wrapped in qualifications. Your plan must qualify and so must your student, but don’t allow these endless lists of criteria discourage you from using 529 plans. In order for [more…]

Saving for College via Section 529 Plans and Coverdell Accounts

Postsecondary education isn’t free. The costs of attending college are huge. 529 Savings Plans and Coverdell Accounts provide built-in tax incentives to help you save for college expenses. [more…]

Basic Parts of Section 529 College Savings Plans

Qualified tuition programs covered under Section 529 of the Internal Revenue Code are programs that allow you to save money or purchase tuition credits for future college expenses for a specific beneficiary [more…]

Purchase Future College Education with Section 529 Prepaid Tuition Plans

Prepaid tuition plans allow you to purchase future college tuition at current costs. The plans can be administered by a specific state or by an institution. The amount of money you put into your prepaid [more…]

529 College Savings Plan Options to Fund Secondary Education

Not all Section 529 college savings plans are alike. Some 529 plans allow only residents of their states to participate, while others open their plans up to everyone. There’s an even larger difference [more…]