529 Plan
May 20th, 2005
A 529 plan is a tax-advantaged college savings plan. A 529 plan is introduced to encourage people to save for college because of the ever increasing cost of attending college. A 529 plan is sometimes known as a qualified tuition plan and there are two basic types of a 529 plan.
The rules of a 529 plan is laid out in the Internal Revenue Code Section 529. A 529 plan is usually sponsored by a state, state agency, or educational institution.
Two types of 529 plans
Generally, there are two types of 529 plans: the prepaid programs and the savings programs. The latter type of 529 plans is more common and is also known as the College Savings Plans. A 529 college savings plan is usually sponsored by a state while a prepaid tuition plan is often sponsored by a group of private colleges or universities. Below are resources on the 529 plan.
- A Child’s College Saving Plan
- 529 Plans
- 529 Plans Highlights
- What is a 529 plan?
- 529 Plan Frequently Asked Questions
- Age-Based Portfolio of 529 plans
- Fixed Portfolio of 529 plans
- 529 Plans Facts At A Glance
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