Top Reasons to Save

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SMART529 Select can help put you on the course to saving for college. It’s easy to see why it’s a SMART start!


Some of the reasons our account holders opened a SMART529 Select account, are:

 

Growth Potential

  • 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

 

Tax Benefits

  • 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.

     

Flexibility

  • 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

     

Eligibility

  • 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

 

1 Qualified Higher Education expenses include room and board, required supplies and equipment, books, tuition and fees. 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.

2 For the definition of “Eligible Family Member,” please see Offering Statement



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