King bell
VIP Contributor
How do 529 plans work?
A 529 savings plan is a college savings account that can often be found as part of an investor’s online brokerage account. These plans are generally sponsored by state governments and allow you to invest in mutual funds, stocks, bonds and other securities in order to build cash reserves for your child’s college fund. The benefit of a 529 plan is that exclusion from the financial aid formula — up to the cost of attendance at most schools. This means you can use the full balance of your 529 plan on tuition, fees, room and board without taking a penny from your child’s financial aid award package.
A 529 savings plan is a special account that is set up to help you save money that can be spent on education costs. It's a great way to pay for college, especially when compared to the more expensive route of paying tuition as it comes due.
A 529 savings plan is a college savings account that can often be found as part of an investor’s online brokerage account. These plans are generally sponsored by state governments and allow you to invest in mutual funds, stocks, bonds and other securities in order to build cash reserves for your child’s college fund. The benefit of a 529 plan is that exclusion from the financial aid formula — up to the cost of attendance at most schools. This means you can use the full balance of your 529 plan on tuition, fees, room and board without taking a penny from your child’s financial aid award package.
A 529 savings plan is a special account that is set up to help you save money that can be spent on education costs. It's a great way to pay for college, especially when compared to the more expensive route of paying tuition as it comes due.
