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What is another term for 529 plan?
Qualified Tuition Programs" and sometimes called "section 529 plans"
What is 529 location?
529 plans are tax-advantaged savings plans designed to encourage saving for future education costs. The number "529" refers to the section of the Internal Revenue Code that governs these plans. Each state offers its own 529 plan, which can be used to save for a beneficiary's qualified education expenses.
Where can you find reviews on the worst and best 529 college plans?
On the CBS website in the CBS moneywatch section you can find an article about the four best as well as the four worst college plans. It also give you further information about 529 college plans.
What information can you give me on a 529 savings plan?
529 Savings plans are designed to help someone save for college. Most 529 plans are state sponsored.
Saving For College With Section 529 Plans?
A Section 529 plan is designed to encourage saving for future higher education expenses. There are two common types of 529 plans � savings and prepaid. The most common, savings plans generally invest funds in a variety of investment assets which become more conservative as the student reaches college age. Only states may administer savings plans. On the other hand, prepaid plans allow parents to lock in today�s tuition rate by purchasing tuition credits to be used in the future. Prepaid plans may be administered by either states or the educational institution themselves.
Do 529 College Savings plans adjust for inflation?
529 savings plans CAN adjust for inflation. This is usually based on the state your in and how large your savings plan is.
Can 529 college savings plans be used on out of state schools?
No. Since the "529" refers to a section of IRS code, it is a national program. As long as the institution you want to attend is a qualified university or college it doesn't matter which state you attend in or save in.
Where can I find some tips regarding 529 savings plans?
The 529 college savings plan is an excellent tool for saving for your children's future. Financial guru, Clark Howard, offers numerous tips on 529 plans on his website at www.clarkhoward.com. Look for his guide to 529 plans. The SEC has an excellent resource on the legalities of the 529 savings program. You can find more information at http://www.sec.gov/investor/pubs/intro529.htm.
Invest in Your Child's Future With a 529 Plan?
A 529 savings plan is a special investment that is specifically designed to help you pay for your child's education. It is important to note that there are two types of 529 plans available: Pre-paid Plans- This is a 529 plan run by a specific college, and the money invested in such a plan is intended to be used at that university. College Savings Plans- This is a state run 529 plan. The savings in a state run 529 savings plan can be used at any eligible university in the country.
Who qualifies for a 529 savings plan?
A 529 savings plans can be used to meet the costs of colleges nationwide. A 529 is purchased by parents to save for future college costs.
What is a 529 plan and how does it work?
It is a tax-advantaged college savings plan.529 plan historyA 529 Plan is an education savings plan operated by a state or educational institution designed to help families set aside funds for future college costs. It is named after Section 529 of the Internal Revenue Code which created these types of savings plans in 1998.State plans are OK for out of state colleges529 Plans can be used to meet costs of qualified colleges nationwide. In most plans, your choice of school is not affected by the state your 529 savings plan is from. You can be a CA resident, invest in a VT plan and send your student to college in NC. Check to see if your institution is eligible under 529 rules.Which states offer 529 plans?Every state now has at least one 529 plan available. It's up to each state to decide whether it will offer a 529 plan (possibly more than one) and what it will look like, meaning 529 plans can differ from state to state. You should research the features and benefits of your plan before you invest, research state 529 plans and even compare between plans compare between plans.Tax BenefitsAs long as the plan satisfies a few basic requirements, the federal tax law provides special tax benefits to you, the plan participant.Some states (but not all) offer tax incentives to investors as well. Research your state's tax treatment.Types of 529 plans529 plans are usually categorized as either prepaid or savings plans.Savings Plans work much like a 401K or IRA by investing your contributions in mutual funds or similar investments. The plan will offer you several investment options from which to choose. Your account will go up or down in value based on the performance of the particular option you select.Prepaid Plans let you pre-pay all or part of the costs of an in-state public college education. They may also be converted for use at private and out-of-state colleges. The Independent 529 Plan is a separate prepaid plan for private colleges.Educational institutions can offer a 529 prepaid plan but not a 529 savings plan (the private-college Independent 529 Plan is the only institution-sponsored 529 plan thus far).Enrolling in a 529 planThere are two ways to invest in a 529 plan.Directly with the 529 Plan manager.Through a financial advisor.
What has the author Arthur M Seltzer written?
Arthur M. Seltzer has written: 'Professional advisors' guide to Section 529 plans and other college savings incentives' -- subject(s): Finance, Higher Education, Law and legislation, Prepaid tuition plans
