College Planning

A college education offers a lifetime of expanded knowledge, friendships, interests – and can help make dreams become a reality. The rising cost of learning can put these dreams in jeopardy.

That’s where a 529 college savings plan can help! Designed to help families meet education expenses for any accredited school in the nation, 529 college savings plans offer a convenient, flexible and potentially tax-efficient way to save for learning.

The sooner you start putting money into a college savings plan – even a small amount – the more you could benefit from the tax and other financial advantages. A 529 plan offers:

  • Tax-deferred growth
  • Federal income-tax-free qualified withdrawals
  • Estate planning benefits
  • Professional investment management
  • Wide choice of investment strategies
  • Full control over the money you save
  • Flexibility to save for any family member or friend

Participation is a 529 College Savings Plan (529 Plan) does not guarantee that contributions and investment return on contributions, if any, will be adequate to cover future tuition and other higher education expenses or that a beneficiary will be admitted to permitted to continue to attend an institution of higher education.  Contributors to the program assume all investment risk, including potential loss of principal and liability for penalties such as those levied for non-educational withdrawals.

An investor should consider, before investing, whether the investor’s or designated beneficiary’s home state offers any favorable state tax treatment or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state’s qualified tuition program. Consult with your financial, tax or other adviser to learn more about how state-based benefits (including any limitations) would apply to your specific circumstances. You may also wish to contact your home state or any other 529 college savings plan to learn more about the features, benefits and limitations of that state’s 529 college savings plan. Furthermore, the Tax Cuts and Jobs Act that was signed into law on December 22, 2017 allows for up to $10,000 a year per beneficiary in tax free distributions from a 529 Plan if used for tuition incurred for enrollment or attendance at a public, private, or religious elementary or secondary school. Check with your state’s guidelines prior to withdrawing the funds.

For more complete information, including a description of fees, expenses and risks, see the offering statement or program description.

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