College costs are rising. 529 plans offer tax-advantaged savings for education expenses. Start early to maximize growth.
What is a 529 Plan?
A 529 plan is a tax-advantaged savings account for education. Contributions grow tax-free. Withdrawals for qualified education expenses are tax-free.
Benefits:
- • Tax-free growth
- • Tax-free withdrawals for education
- • State tax deductions (varies by state)
- • No income limits
- • Flexible beneficiary changes
Qualified Expenses
Tuition, fees, room and board, books, computers, and supplies. Up to $35,000 can be rolled to a Roth IRA. Recent changes expanded flexibility.