529 College Savings Plans
A 529 plan is a savings plan that helps families save for future qualified higher education expenses.
In a 529 account, your money can grow free from taxes and be used to fund qualified higher education expenses at eligible educational institutions nationwide. In addition, up to $10,000 annually can be used toward K-12 school tuition per student from all 529 Plans.
A 529 account can be set up for anyone, including yourself – and you can change the beneficiary to another family member without penalty at any time.
529 accounts are sponsored by States or State Agencies. Options may vary depending on your state of residence.