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

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

www.collegesavings.org/commonQuestions.aspx

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

 

FINAID

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

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

 

TIAA-CREF

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

www.usscholarshipguide.org/collegesavings/529.html

Answers to frequently asked questions about 529 plans.

 

U.S. SECURITIES AND EXCHANGE COMMISSION

www.sec.gov/investor/pubs/intro529.htm

Provides good overview of 529s.

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