Tell me more ×
Personal Finance & Money Stack Exchange is a question and answer site for people who want to be financially literate. It's 100% free, no registration required.
up vote 5 down vote favorite

Do you have to open a 529 plan for the state that you live in? and if you do, can your child go to college in any state and still use the money saved?

share|improve this question

2 Answers

up vote 6 down vote accepted

No. But there are some states in which a state income tax deduction is offered only for in-state 529 plans.

Your child can go to any college regardless of 529 state.

share|improve this answer
Great thanks for the answer again :) – Xaisoft Sep 8 '11 at 13:32
up vote 1 down vote

More info here:

http://www.clarkhoward.com/news/clark-howard/education/clarks-529-guide/nFZS/

Pick from the best states with the best plans and go to school anywhere. Only choose your own state if you get a tax credit AND it is in the top two tiers from this guide.

Like any investment, you want the lowest costs possible to make more of your money work for you.

share|improve this answer
I live in Florida and did not see it, but noticed that the article was from 2010. Would you know if Florida would make this list now? – Xaisoft Sep 9 '11 at 13:09
I listen to his radio show, and he considers that list up to date. Last time I heard Clark Howard mention that list was a couple of weeks ago. – MrChrister♦ Sep 9 '11 at 16:00

Your Answer

 
discard

By posting your answer, you agree to the privacy policy and terms of service.

Not the answer you're looking for? Browse other questions tagged or ask your own question.