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The plan was created in 2016 by the Washington State Legislature, and statutorily known as the Washington College Savings Plan (RCW 28B.95.032), [1] and opened for nationwide participation in 2018. [2] It is one of two 529 programs offered by the state, the other being the Guaranteed Education Tuition Program (known as GET), which is a prepaid ...
The U.S. dollar payout value of one unit is always equal to one percent of the annual full-time, undergraduate, in-state tuition and state-mandated fees at the most expensive public university in the state – either the University of Washington or Washington State University. Through June 30, 2021, the purchase price of one unit is $133 and ...
How to evaluate education savings options. Time horizon plays a key role in helping parents choose the most suitable education savings options, such as 529 plans and Coverdell education savings ...
7. 529 plans can be used to repay student loans. The 529 plan was expanded further in 2019 ... as there are typically tax advantages associated with investing in one’s home state 529,” says ...
And thanks to 2019’s SECURE Act, 529 plans can also be used toward up to $10,000 of the beneficiary’s student loan debt as well as an additional $10,000 for the student loans of each of the ...
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 ...
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