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529 plan |
Also found in: Wikipedia | 0.07 sec. |
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529 Plan A plan that allows for the prepayment of qualified higher education expenses at eligible educational institutions. Also known as a "qualified tuition program." Notes: The prepayment may be in the form of a contribution to an account established specifically for paying higher educational expenses. There is no income restriction for individuals who want to contribute to a 529 plan however, because contributions cannot exceed the amount that sufficiently covers the expenses of the beneficiary's qualified higher education, individuals should take care not to over-fund the 529 plan.
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? Mentioned in | ? References in periodicals archive | |
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California already has a savings program known as ScholarShare,
similar to a 529 college savings plan that is based on tax-deductible
contributions. QA I want to begin saving for my daughter's college education
and I need assistance in understanding the 529 College Savings Plan. * For higher education costs, invest in the client's state
section 529 college savings plan up to the maximum amount eligible for
state tax benefits. |
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