On the Money: All you need to know about a 529 college savings plan

Published on February 25, 2012

By Chuck Myers, McClatchy-Tribune News Service –

A Qualified Tuition Plan, commonly known as a 529 college savings plan, can help families to put money away for a child’s future college education. A 529 also comes with a tax benefit. If you’d like to explore establishing an education saving account, one of the following Web sites may provide useful insights:

COLLEGE SAVINGS PLANS NETWORK

http://www.collegesavings.org/commonQuestions.aspx

Explains a 529 college saving plan, prepaid plans, taxes and a plan’s effect on tuition programs.

FINAID

http://www.finaid.org/savings/529plans.phtml

Covers several 529 topics, from the program history to tax considerations.

TIAA-CREF

http://www.tiaa-cref.org/public/products-services/education-savings/529/index.html

Describes 529 college saving plans, with links to select state sites and a plan profile.

U.S. SCHOLARSHIP GUIDE

http://www.usscholarshipguide.org/collegesavings/529.html

Answers to frequently asked questions about 529 plans.