Some of the reasons our account holders opened a SMART529 Select account, are:
- Invest in portfolios that have the potential to keep pace with rising college costs
- Choose between portfolios designed for a range of risk tolerances and time horizons
- Withdrawals for qualified higher education expenses1 are free from federal tax
- Potential state tax benefits on contributions, depending on your state of residence. Please consult your tax advisor or financial consultant for details.
- There are no set time limits for contributions, or for using account assets
- Money can be transferred tax-free between any on the investment options twice per calendar year and investment allocations for new contributions can be changed at any time
- Parents, grandparents, other adults and businesses are all eligible to open an account. You can even open an account for yourself.
- The account beneficiary can be of any age
Account Owner Control
- Change your account beneficiary to an Eligible Family Member2 of the current account beneficiary if you desire
- Maintain complete control of the account even after the beneficiary turns 18
- Access funds in your account at any time