529 Basics

What is a 529 Plan

A 529 plan is a tax-advantaged savings plan designed to encourage families to save for college. Earnings on 529 investments accumulate tax-free, and distributions are tax-exempt as long as they are applied toward eligible education expenses such as tuition and room and board.1

More Ways to Save

When it comes to saving for college, every contribution to the account helps. Even smaller contributions, if made regularly, can add up over time. Here are additional opportunities to help you save regularly and invite others to get involved:

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Give college savings with Ugift 

1 Non-qualified withdrawals are taxable as ordinary income to the extent of earnings and may also be subject to a 10% federal income tax penalty. Such withdrawals may have state income tax implications.

 

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