Start saving early for college to maximize growth potential.
Utilize 529 plans for tax-deferred growth and tax-free distributions.
Define specific goals and create a consistent investment plan.
Investing
Zoe Team
4 min read
What is a 529 plan?
A state-sponsored education savings account that offers tax-deferred growth and tax-free withdrawals when used for qualified education expenses.
What happens if my child receives a scholarship?
You can withdraw the amount of the scholarship from your 529 plan without tax penalties, or change the beneficiary to another family member.
Are there tax benefits to using a 529 plan?
Yes, 529 plans offer tax-deferred growth on investments, and many states provide income tax credits for contributions made to their specific plans.
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