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What is a 529 Savings Plan? Comments

  • By Jocelyn Black Hodes, DailyWorth's Resident Financial Advisor
  • June 21, 2013

A 529 Savings Plan is a college savings plan where money can be invested to grow on a tax-deferred basis and withdrawn free from federal and potentially state taxes if used for "qualified" higher education expenses, including tuition, room & board, books, equipment, and other supplies. Contributions are allowed regardless of income and plans can differ by state. 

 

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