529 Collge Savings Plans

529 Plans and why they are a good choice:

Advantages

Earnings are tax-free for qualified distributions

Use your funds at any college in the country

Pay for tuition, room and board, books

Manageable minimum contributions

Transfer unused funds to another child

Flexible investment options

Grandparents can help contribute to their grandchildren's education and many have the resources to help. Opening an account in a 529 Plan or contributing to an existing account is a great way to assist with college costs.

Control withdrawals unlike UGMA or UTMA accounts

Change beneficiaries to other family members

Annual federal gift tax exclusion $12,000

Special gift tax exclusion up to $60,000

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