529 College Savings Plan
Date: Fri, 11/04/2005 - 17:02
529 College Savings Plan
Another investment plan under Section 529 is College Savings Plan. This is different form 529 Prepaid Tuition Plan in several aspects.
529 College Savings Plan do not put any hold on tuition fees. The investment depends upon the market values also. But this policy can bring you some reduction in tax provided you spend the money for education purpose; otherwise this policy is subject to tax.
Though this plan is controlled by current economy, some 529 College Savings Plans save the principal form price rises also. However; the terms and conditions vary for different states.
Anybody can buy the fund for children, but the account holder can control the fund only, not the child.
This plan resembles 401 (K) Retirement Plan sometimes.
Another investment plan under Section 529 is College Savings Plan. This is different form 529 Prepaid Tuition Plan in several aspects.
529 College Savings Plan do not put any hold on tuition fees. The investment depends upon the market values also. But this policy can bring you some reduction in tax provided you spend the money for education purpose; otherwise this policy is subject to tax.
Though this plan is controlled by current economy, some 529 College Savings Plans save the principal form price rises also. However; the terms and conditions vary for different states.
Anybody can buy the fund for children, but the account holder can control the fund only, not the child.
This plan resembles 401 (K) Retirement Plan sometimes.
that's an update
i didn't know anybody can buy funds for the children? that's an update :D
