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While it was originally set up as a way to pay for the spiraling costs of college, the 529 has been expanded to include K-12 education, trade schools and other qualified programs. In addition, a ...
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 ...
Americans have amassed $450 billion for educational expenses in 529 plans as of August 2024, according to the Education Data Initiative. That amounts to around an average of $27,741 for the ...
A 2023 study from The Pew Charitable Trusts found that employees’ insufficient retirement savings has led to increased public assistance costs for retirees, reduced tax revenue for the state ...
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GET is a 529 prepaid tuition savings plan, while Washington's other plan, DreamAhead, is a 529 college investment plan. As with any 529 plan, account owners invest in the program on behalf of a beneficiary – typically the owner's child or grandchild – in order to prepay for expenses associated with the beneficiary attending a higher ...
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related to: kansas 529 program for seniors plan 1 2023 pdf