Benefits of Using a 529 College Savings Plan

The growing costs of college mean parents who intend to help foot the bills need to plan, and as early as possible.

Here’s what you need to know about 529 plans and whether opening one is the right move for you.

It’s probably going to be expensive, but there are some things you can consider to reduce the costs.

A prepaid tuition plan allows you to prepay tuition and fees at certain colleges and universities at today’s prices Such plans are usually available only at public schools and for in-state students

Prepaid Tuition Plan

Contributions are flexible, meaning you can save monthly, quarterly, annually, or deposit a lump sum. Beyond parents making regular payments, 529 plans can be a clever way for the extended family to give a meaningful gift on birthdays or holidays.

Education Savings Plan

Every state offers a 529 savings plan, but not all are created equal. When trying to find the best 529 college savings plan, you may want to think about the tax benefits and the fees.

Choosing a 529 Savings Plan

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