529 College Savings Plan

 First up, what’s a 529 college savings plan? It got its name from Section 529 of the International Revenue Code, which states that the federal tax law grants you certain tax benefits if you can satisfy a few basic requirements.

The plan itself is a form of education savings plan which is operated by a state. A 529 college savings plan may also be operated by an educational institution specially designated by the state to provide such a plan. The purpose is to provide families a way to save money for future college expenses.

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