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The Path to College Starts Here

Together with 529 College Savings Plans, we can help the next generation achieve their education goals without the burden of student loan debt keeping them from a brighter future.

Study Shows One in Five Know Purpose of a 529

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What is a 529 Plan, and Why Should You Care?

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Young Boozer, National 529 Campaign Chair

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Why 529 College Savings Plans?

They are one of the best ways to save for higher education. Save in a 529 plan and the earnings made on top of your contributions will be tax-free as long as they are used for qualified higher education expenses.

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529 IQ Quiz

Test Your 529 College Savings Plan Knowledge

Question 1 / 7

You can go online and open a 529 college savings account in 10 minutes.

True
False

Question 2 / 7

What former U.S. president (and first lady) were still paying off student loan debt into their 40s?

George W. and Laura Bush
Barack and Michelle Obama
Bill and Hillary Clinton
Ronald and Nancy Reagan

Question 3 / 7

You can use 529 college savings funds for higher education in the continental United States, but you can also use the money for higher education at:

The College of Micronesia – FSM
Northern Marianas College
American Samoa Community College
All of the Above

Question 4 / 7

You can open a 529 account with a quarter … as in 25 cents.

True
False

Question 5 / 7

You have to use your home state’s 529 plan.

True
False

Question 6 / 7

You can pay for your child’s education based on today’s tuition rates.

True
False

Question 7 / 7

The number 529 actually refers to a tax code used by the IRS.

True
False

Definitely! Opening a 529 college savings account is a fast and easy process. You can go to collegesavings.org and learn more about beginning the process. Setting up your account can take less time than you might think. The point is to get started today.

Actually, it takes less time than you might think. Opening a 529 college savings account is a fast and easy process. You can go to collegesavings.org and learn more about beginning the process. Getting started early is key.

That’s correct! Barack and Michelle Obama were 44 and 41, respectively, when they finished paying off their student loans. And they aren’t the only past or present government figures paying off debt: Senators Marco Rubio and Ted Cruz have also spoken about their experiences paying off debt in their 40s.

Almost! Barack and Michelle Obama were 44 and 41, respectively, when they finished paying off their student loans. And they aren’t the only past or present government figures paying off debt: Senators Marco Rubio and Ted Cruz have also spoken about their experiences of paying off debt in their 40s.

All true! Funds can be used at any eligible educational institution in the United States, as well as many international schools and study abroad programs. Also, those eligible educational institutions also aren’t limited to traditional universities – many technical skills or community colleges qualify, too. See qualified schools here.

Your funds can be used at any eligible educational institution in the United States, as well as many international schools and study abroad programs. Also, those eligible educational institutions also aren’t limited to traditional universities – many technical skills or community colleges qualify, too. See qualified schools here.

True! Some states do not require any initial investment to open a 529 account. You can start with $0, $10, $100 – the point is to begin. You can learn more about the different state plans at collegesavings.org.

This one is tricky. It depends on the specific state’s 529 plan, but many have $0 or as low as $10 initial investment upon sign up. You can learn more about the different state plans at collegesavings.org.

Correct! There are many different 529 plans that have varying features and investment options, and most are available to you. Your home state’s plan is a great place to start because they might have state tax benefits, matching programs or other incentives you can use to your advantage. But you are by no means limited in your choices.

You actually have a lot more freedom! There are many different 529 plans that have varying features and investment options, and most are available to you. Your home state’s plan is a great place to start because they might have state tax benefits, matching programs or other incentives you can use to your advantage. But you are by no means limited in your choices.

That’s right! 10 states and one not-for-profit organization have prepaid tuition plans. They let you purchase full or partial years or individual units of tuition for a child, and once they reach college age, the plan pays out based on tuition rates at that time.

You can, actually! 10 states and one not-for-profit organization offer prepaid tuition plans. They let you purchase full or partial years or individual units of tuition for a child, and once they reach college age, the plan pays out based on tuition rates at that time.

That’s true! Just like 401k for retirement, 529 college savings plans are so named because, in Section 529 of the Internal Revenue Code, they are formally listed as “Qualified Tuition Programs” administered by state agencies and organizations. Just like 401ks are specifically designed to help you save for retirement, 529 plans are designed to help you save for your child’s education.

Actually, it does refer to the tax code. Just like 401k for retirement, 529 college savings plans are so named because, in Section 529 of the Internal Revenue Code, they are formally listed as “Qualified Tuition Programs” administered by state agencies and organizations. Just like 401ks are specifically designed to help you save for retirement, 529 plans are designed to help you save for your child’s education.

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