529 Savings Plans, legally known as "qualified tuition plans," are sponsored
by states, state agencies and institutions as a way to save
for college with special tax benefits. There are two types of 529 plans: pre-paid
tuition plans and college savings plans. College
savings plans can be either direct-sold or advisor-sold.
Direct-Sold College Savings Plans allow you to buy directly
from the plan's sponsor or program manager without paying a "load," or
sales fee. Advisor-Sold College Savings Plans allow you to buy from an
investment advisor, brokerage firm or bank.
Pre-paid tuition plans generally allow college savers to purchase units or credits at participating colleges and universities for future tuition and, in some cases, room and board. Most prepaid tuition plans are sponsored by state governments and have residency requirements. Many state governments guarantee investments in pre-paid tuition plans that they sponsor.
College savings plans generally permit a college saver to establish an account for a student to help pay for the student's eligible college expenses. An account holder may typically choose among several investment options for his or her contributions, which the college savings plan invests on behalf of the account holder. Withdrawals from college savings plans can generally be used at any college or university. Investments in college savings plans that invest in mutual funds are not guaranteed by state governments and are not federally insured.
The table below lists the name and type of the 529 Savings Plan available in each state. Click on the Plan's name to visit the Plan's website. For additional information on 529 Savings Plans we strongly encourage you to visit the College Savings Plans Network.
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The information presented on this web site is for information purposes only and does not constitute investment advice or an offer to sell any security.
