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529 plan. A 529 plan, also called a Qualified Tuition Program, [1] is a tax-advantaged investment vehicle in the United States designed to encourage saving for the future higher education expenses of a designated beneficiary. In 2017, K–12 public, private, and religious school tuition were included as qualified expenses for 529 plans along ...
What is a 529 plan and how does it work? A 529 plan, also called a qualified tuition plan, is a tax-advantaged savings plan sponsored by states, state agencies or educational institutions.
Created in 1996 to help pay for college, these plans can now also be used to pay for K-12 tuition at private schools and apprenticeship programs. So, what is a 529 plan?
A 529 plan allows contributions to grow tax-deferred, and any money may be withdrawn tax-free if used for qualified education expenses at eligible institutions.
The Guaranteed Education Tuition Program, or GET Program, is one of two 529 college savings plans administered by Washington College Savings Plans (WA529). WA529 is part of Washington Student Achievement Council, an agency of the U.S. state of Washington for residents of the state.
This tax-advantaged account offers several benefits, including tax-free growth and withdrawals for qualified education costs like college tuition, K-12 tuition and apprenticeship programs.