for questions that relate to a 529-plan. A 529 plan is a tax-advantaged investment vehicle in the United States designed to encourage saving for the future higher education expenses of a designated beneficiary.

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1answer
45 views

College 529 plan and state taxes

I live in PA, do you know if I enroll in 529 plan before the end of the year and contribute some amount, will I get State tax refund in 2014? I usually owe 0$ on state taxes. I understand if I owed ...
2
votes
2answers
51 views

Tax implications of dispersing trust to my child's 529 plan vs directly to me

I will be inheriting a portion of my father's trust. My child is in college now, and I contribute the full amount to the trust every year. Are there tax advantages to disperse proceeds from the trust ...
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0answers
22 views

Is there a stock market symbol for the Virginia inVEST James River 529 plan?

Does anyone know if there is a stock market symbol for the VA inVEST James River 529 plan? I would like to view it's recent performance.
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2answers
120 views

Can a parent open a 529 for a minor?

Can a parent open a 529 on behalf of their minor-age kid, with the kid as beneficiary? Note: I am not asking about an adult opening a 529 (on their own behalf) and naming their kid as a ...
2
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1answer
124 views

What are the pros and cons of setting up a 529 plan for myself?

I currently work full-time and I am going to graduate school part-time. I was wondering what the pros and cons of setting up a tax exempt college account for myself were (I believe it's a 529). The ...
4
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1answer
342 views

529 Plans vs Coverdell ESA

I was recently introduced to ESAs (did not know they even existed), and am trying to decide if I want to open an ESA or a 529 account. I was attracted to the ESA initially because it looks like you ...
4
votes
1answer
117 views

Tax advantages of using 529 plans to save for child's education?

I have been looking into 529 plans for my son, and my primary banking and financial institution offers a 529, but their 529 is not as high performing as some other likes Vanguard, T Rowe, or State ...
8
votes
1answer
3k views

Should I use a Roth 401K rather than 529 to save for children's college?

I have set up a 529 for my child's college fund but the more I look at it the less useful it seems compared to alternatives. The 529 is quite restricted -- What if she doesn't go to college? What if ...
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3answers
126 views

Is there any “Personal” Finance app that allows 2 administrators?

I'm an advocate of marriage meaning together in everything. Sometimes even work. But i've had some trouble finding a "Personal" finance app that would allow me to make shared budgeting and allow ...
9
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1answer
253 views

How to create a college savings account for a kid without his mom being able to tap into it?

I am divorced with 2 kids. My mom wants to setup a college savings account of some type for my older kid. Last time she did this, she used my kid's SSN and deposited some money. I do not know what ...
4
votes
1answer
88 views

What should I consider when opening a 529 for someone who is not my dependent?

I have some money languishing in a CD. I rigged the baby pool when my "nephew" [best friends son] was born and set my ill gotten gains aside for his education. I would like to open a 529 for him. I ...
2
votes
2answers
103 views

College Savings: Using available IRA vs establishing a 529 plan?

A financial adviser has recommended to me using my IRA to save for my son's college with the following notion in mind: 529 plans must be used for education, therefore if he doesn't want to attend* ...
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3answers
1k views

Saving for niece's education: Roth vs 529 vs something else?

I am considering starting an account to help fund my girlfriend's niece's education. I am looking at contributing a small amount each month. I would also like to maintain control of the money and be ...
5
votes
1answer
359 views

Long term investing on behalf of newborn

I have some gifts from friends and family for my newborn daughter. I would like to invest these but I don't know what is the best way. 529 plans spring to mind but I don't know what the educational ...
4
votes
1answer
93 views

Saving for College via Upromise, ideal 529 plan?

So I have a upromise account, had one for quite a while. I have some money sitting there now and I need to get it transferred out. I'm thinking a 529 plan, and when I go to set it up, theres a long ...
5
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1answer
1k views

Can I convert my 529 college savings plan to a Coverdell ESA?

Can I convert my 529 college savings plan to a Coverdell ESA, or am I stuck with my 529 plan?
2
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3answers
100 views

Tax Benefits for 529 Plan and Treasury Savings Bonds?

So here is my question (for tax year 2011): If I open and fund 529 College Savings Plan, do I get federal and state (Utah) tax deduction for my contributions? If I get a Treasury Savings Bond ...
2
votes
1answer
218 views

Can I use 529 plan funds to pay for a CLEP test? How about CLEP test preparation materials?

Can I use 529 funds to pay for a CLEP test? How about CLEP test preparation materials? Title pretty much says it all.
5
votes
2answers
81 views

In state 529 plan, out of state college?

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?
5
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1answer
73 views

Can I roll a College 529 education savings plan into a prepaid tuition plan?

I currently have college savings in a 529 plan (New Hampshire). Recently, Texas started the Texas Tuition Promise Fund which is a prepaid college savings plan. I would like to roll the money I have ...
5
votes
1answer
81 views

Can I personally start and use a 529 college savings account?

I am still a college student, and I am currently working. I am taking out loans for my tuition costs and paying for the rest of my expenses out of pocket (from my job). Yet I was wondering if I could ...
14
votes
4answers
389 views

529 College Savings Worth It?

Is the 529 college savings plan a good idea, or are there better ways to save for my child's college tuition? My children are 5 and 3.
7
votes
2answers
209 views

Can I start a 529 plan for a child before the child is born?

A recent question got me wondering about this one: Conventional wisdom says "It's never too early to start saving for your kid's college education." But a 529 plan is taken out for a specific person. ...
4
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1answer
73 views

Are there two layers of fees in a 529 “portfolio”?

I'm looking specifically at this 529 plan Fidelity Intermediate Bond Portfolio, which is invested exclusively in this Fidelity Intermediate Bond Fund - Class I. The portfolio lists a 1.64% Gross ...
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2answers
97 views

College Planning specialists

I went to a 'free' seminar tonight regarding college planning, how to get the most financial aid possible, etc. It turned out to be a financial planner who specializes in college financial planning. ...
4
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2answers
830 views

How do (United States) 529 college savings plans work for attending college in another country?

I've been looking into 529 plans for my son (3 yrs old) but he has dual citizenship (US and Canadian). It is possible that he might attend college in Canada. I've look around for information on ...
4
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2answers
396 views

What are the rules on overfunding a 529 college savings account?

I read somewhere that overfunding a 529 account could be subject to taxes and a 10% penalty. Does anyone know how this works? Obviously, it is very difficult to predict the tuition costs 10 or 15 ...
7
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2answers
2k views

Do I need to start a 529 plan for each child (2 separate plans), or can I just open one 529 plan and let both children use it?

I am looking at starting 529 plans for my kids. My question is whether I need to start one for each of them (2 separate plans), or can I just open 1 and both of them can use it? I would assume the ...
9
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1answer
147 views

Investment fund for your child's education?

I have two young children that I am hoping will follow in my footsteps and choose to go to college some day. How do I go about setting up some type of an investment fund for them? I've heard there are ...