Saving for college—whether for your children or your grandchildren—has become easier in recent years with the emergence of state-sponsored savings plans. Called a Section 529 Plan, after the section of the Internal Revenue Code that created them, these plans are offered by all 50 states and provide tax benefits to college savers. Two options While each state plan is different, there are two general types of plans: prepaid tuition plans and college savings plans. With a prepaid tuition plan, the money you put into the plan is earmarked for tuition at your local state university. In most cases, once you […]
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- The Good News
- 2 Jun 2014
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