How do you set up a 529 Plan?

Answer 1

The best 529 for your family is going to depend on your child(ren)'s age, your investment plan and other factors. Similar to big-ticket purchases like a computer or television, you will find there are a large number of plans that fit your basic needs, and from there it's a matter of doing some research or working with your financial advisor to determine the best choice for your family.

If you don't have a financial advisor but you'd like to work with one, you have several options. Online, one of the best resources for choosing a 529 is SavingForCollege.com. You can visit SavingForCollege.com and search a list of financial advisors who specialize in 529 plans to see if there's one in your area.

If you want to enroll in a 529 plan directly, SavingForCollege.com also offers tools & calculators to determine your saving needs and compare the features of the direct-sold 529 plans.

You can sign up for most 529 plans even if you are not a resident of the state which offers the plan. The tax benefits for residents vary from state to state and five states, Missouri, Arizona, Kansas, Maine and Pennsylvania, offer tax parity to residents for investment in an out-of-state plan.

Answer 2

There aren't any requirements to get started. If you want to have your plan at a specific school, talk to a school officer to get started. If you want to start a general plan, talk to an authorized financial adviser in your state.

Answer 3

Applying for a 529 college savings plan can be very difficult for most people to do since it is based on credit. The best way to apply is to simply contact your bank and ask for a credit application.

Answer 4

Once you go to the website "enroll now" option link provided below, Click on your home state and click "enroll now". http://www.savingforcollege.com/enroll_in_a_529_plan/