"It's a great option for families who can afford to use part of their money toward educational expenses and believe having a college education is important." Before shopping around for 529 plans ...

Investopedia / Tara Anand A 529 plan can be a great way to save money for college, as earnings are generally exempt from federal and state income taxes if used for qualified education expenses.

A 529 plan is a tax-advantaged savings account intended for college education expenses. These plans charge fees, which vary by state and whether the plan is advisor-sold or direct-sold.

A 529 savings account is designed to help you save toward your child's future education expenses. By opening a 529 plan, you may be able to reduce future out-of-pocket costs and get a tax break on ...

As you can see, there are many additional expenses you’ll need to account for. So your best bet is to make a list of your costs and set a budget. And if your 529 plan and other savings can’t ...

If you pay state income taxes, you’ll need to report 529 contributions on your tax return as well as any withdrawals for qualified educational expenses. A 529 plan lets you invest money for ...

529 savings plans can cover qualified educational expenses at all levels, including graduate school. The money you contribute to a 529 plan is federally tax-deferred, and eligible withdrawals from ...

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“For example, if the room and board cost reported by the school is $15,000 but it costs $30,000 for the student living off campus, then only $15,000 is a valid 529 expense,” Thornton say ...