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529 plans can be used for many college-associated expenses other than tuition.
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 tax-advantaged savings plan designed to help parents or grandparents cover the costs of their child’s or grandchild’s education. ... How a 529 works. These college savings ...
West Virginia’s plan, Smart 529 WV Direct College Savings Plan. ... they still require a trade-off from savers. A 529 plan can offer tax-deferred growth on your contributions, a tax-free ...
SOURCE: Integrated Postsecondary Education Data System, Purdue University-Main Campus (2014, 2013, 2012, 2011, 2010). Read our methodology here. HuffPost and The Chronicle examined 201 public D-I schools from 2010-2014. Schools are ranked based on the percentage of their athletic budget that comes from subsidies.
The Michigan Education Savings Program (MESP) is a 529 savings plan that is administered by the Michigan Department of Treasury. Michigan residents who contribute to this plan can deduct up to $5,000 (up to $10,000 for joint filers) from their state income tax each year. MI State Matching Grants based on MESP contributions are not currently ...
Originally designed for college expenses, 529 plans can now be used for K-12 tuition at private schools and apprenticeship programs. Funding a 529 plan may have immediate tax benefits in some cases.
According to the contract terms, Kaplan would receive 12.5-13 percent of the university's revenue, in addition to reimbursement for its costs of providing support to the school, as long as funds are available after all operating expenses and guaranteed payments to Purdue have been covered. Purdue University president Mitch Daniels announced the ...