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Potentially high-return investment options. ... 6. 529 plans aren’t just for college. While 529 plans are generally associated with university education, they can also be used for private ...
The Michigan Education Savings Program (MESP) is a 529 savings plan that is administered by the Michigan Department of Treasury. Michigan residents who contribute to this plan can deduct up to $5,000 (up to $10,000 for joint filers) from their state income tax each year. MI State Matching Grants based on MESP contributions are not currently ...
But another even more popular option for savers is a 529 college savings plan, such as the Michigan Education Savings Program, which was launched in November 2000. Savers can open an account for ...
529 plans can be used for many college-associated expenses other than tuition.
529 plans are named after section 529 of the Internal Revenue Code—26 U.S.C. § 529.While most plans allow investors from out of state, there can be significant state tax advantages and other benefits, such as matching grant and scholarship opportunities, protection from creditors and exemption from state financial aid calculations for investors who invest in 529 plans in their state of ...
New York’s 529 plan, Direct Plan. New York’s plan is available to residents of any state, and it offers low-cost investment options using Vanguard funds, well known for keeping investment ...
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