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Morningstar (MORN) has published its annual analysis of America's best and worst 529 college savings plans. If you have kids -- and higher-education-related hopes for them -- here's what you need ...
Americans have amassed $450 billion for educational expenses in 529 plans as of August 2024, according to the Education Data Initiative. That amounts to around an average of $27,741 for the ...
529 plans are named after section 529 of the Internal Revenue Code—26 U.S.C. § 529.While most plans allow investors from out of state, there can be significant state tax advantages and other benefits, such as matching grant and scholarship opportunities, protection from creditors and exemption from state financial aid calculations for investors who invest in 529 plans in their state of ...
A 529 plan is a college savings plan that provides tax advantages when used for qualifying purposes. A 529 plan is something like a Roth IRA or 401(k) plan designed for educational savings.
Since 2018, Morningstar has named Virginia's Invest529 plan among the top 529 college savings plans in its annual analysis. [2] [3] [4] According to U.S. News & World Report, Virginia's 529 offers a "whopping" 27 funds and six multi-fund options in its static track. Further, US News reports that "Morningstar applauds the plan’s low costs ...
A 529 plan gives you a lot of flexibility about who can use the plan and when, says Van Sant. “Parents can change the beneficiaries on a 529 plan in case the originally designated child chooses ...