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A 529 plan is a state-sponsored college savings program that gives everyone — parents,
grandparents or even friends — the opportunity to invest in a child’s higher education.
It takes advantage of section 529 of the Internal Revenue Code. Regardless of income, you can
open an account and invest in a child’s future. The best part? Your money grows tax-deferred
— you won't owe any federal taxes on qualified higher education
withdrawals — and you remain in control of the account at all times.
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| Tax-deferred growth potential, tax-free withdrawals on qualified education expenses | |
| | For many 529 plans, start with a few hundred dollars or contribute as little as $50 a month | |
| | Potential for valuable state, income, estate and gift tax benefits | |
| | Use at any eligible college or university | |
| | Change your beneficiary at any time |
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