The Best 529 Plans
Taking advantage of tax benefits by investing in low-cost, smartly designed 529 plans can stretch your college savings dollars.
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There are lots of benefits to using 529s to save for future college costs. They are funded with aftertax dollars, which then grow tax-free. Withdrawals for qualified education expenses are also tax-free. On top of that, some states offer tax deductions or credits for contributions.
Because of these money-saving tax benefits, 529s are becoming increasingly popular: According to data from the College Savings Plan Network, U.S. families had invested more than $350 billion in 529 accounts as of June 30, 2019.
