529 Plan and College Savings

Archive for July, 2006

Question: 529 college plan question??

I live in Illinois, if I open a state 529 Plan for my kids-do they have to go to an Illinois school in the program? If they dont, what happens to my $$??

Answer: No, your kids do not have to go to a school in Illinois and further more you do not have to settle for a plan based in Illinois (though for tax reasons you might want to) – you can choose from many different plans that may/may not be based in your state. Checkout this link out http://clarkhoward.com/topics/529_guide.html

Cash for College: 5 Tips by Matthew Sapaula on Chicago’s WGN Morning News