529 Plan and College Savings

To help your clients have the financial means to pay for the higher education they need and deserve through tax-advantaged, professionally managed investment portfolios designed to help meet tuition and other qualified higher education expenses at any eligible educational institution.

529 Plan is a higher education savings plan established under Section 529 of the Internal Revenue Code to help people save for the costs of higher education.

529 Plan provides several key benefits to investors, including flexibility, tax benefits, control over withdrawals and opportunities for attractive investment returns.

Participants can use the proceeds to pay for qualified higher education expenses (tuition, room and board, books, and supplies) at any eligible college, university, or post-secondary vocational training institution.

With 529 plans, anyone can invest money on behalf of any individual. Not only parents, but also grandparents, other relatives, and friends can put money aside on a tax-advantaged basis to help a student finance his or her higher education.

People who are at least 18 years old can even make contributions on their own behalf. There is no income restriction on who may contribute.