What is a 529 Plan?
Families that save early pay less for school, reduce their needs to borrow and have more funds available later in life. How you save, where you save, when and who do you save for are big questions.
529 plans are the best way to save for college. It’s an investment account that has Tax Benefits. You can use it to pay for college, k-12 tuition, even student loans repayment. Your state have tax breaks as well (Besides the federal tax benefits, over 30 states offer a full or patient tax deduction or tax credit for 529 contributions). 529 are low maintenance accounts, yet highly flexible. You can also roll 529 funds into a Roth IRA.