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Originally designed for college expenses, 529 plans can now be used for K-12 tuition at private schools and apprenticeship programs. Funding a 529 plan may have immediate tax benefits in some cases.
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 ...
The average cost of tuition and fees at four-year private colleges and universities has grown from $34,970 for the 1994-1995 school year to $58,600 for 2024-2025, according to CollegeBoard.
A 529 plan is a college savings plan that provides tax advantages when used for qualifying purposes. A 529 plan is something like a Roth IRA or 401(k) plan designed for educational savings ...
Scholarshare is the California State 529 plan, a tax-advantaged investment vehicle designed to encourage saving for the future higher education expenses of a designated beneficiary. [ 1 ] Notes
Created in 1996 to help pay for college, these plans can now also be used to pay for K-12 tuition at private schools and apprenticeship programs. So, what is a 529 plan?
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