529 Plan Benefits

529 savings plans have many advantages over traditional savings accounts, which can make saving for college easier for families.

Advantages of saving with a 529 plan

  • Tax-free Withdrawal – With a 529 Plan, your total savings can be withdrawn tax-free, if used for a qualified educational expense
  • Transferability – Funds leftover in your 529 Plan can be transferred to another beneficiary or to a Roth IRA account
  • Flexibility – In addition to traditional 4-year college, tuition to community colleges, trade schools, and private K-12 schools are included as qualified educational expenses
  • No Age Limits – There are no age limits for anyone looking to open a 529 plan to fund higher education
  • No Gift Tax – Donations of up to $18,000 per individual are allowed without tax implications for the donor
  • Financial Aid (FASFA) – Qualified distributions from a student-owned or parent-owned 529 account, to pay for the current year’s college expenses, are not included in the calculation of “base-year income” that would reduce eligibility for financial aid.
  • Easy Gifting – Anybody can donate to a 529 plan with access from a gift link
  • In-State Tuition – 529 prepaid plans let you prepay part or all of an in-state public tuition, locking in the tuition amount at time of payment

Savings Comparison with a 529 Plan

Save More, Faster, with Perks!

Traditional savings plans can’t provide the same long-term benefits of a 529 Plan. 529 Plans are designed specifically to help make college accessible and affordable for all students!

It’s never too early to start saving!

Disclaimer: The above figures are purely for demonstrative purposes and are based on several discrete financial assumptions. These figures are not meant to guarantee or represent any actual financial results

The Ultimate Savings Duo

MAX529 and your 529 Savings Plan

MAX529 was designed as the perfect enhancement for 529 savings plans. MAX529 accelerates the ability for students and parents to meet thier funding goals and do it faster.

Combine MAX529 and your 529 savings plan, there is no better way to save for your education!

Already have a 529 plan?

Need to open a 529 plan?

Already have a 529 plan?

Need to open a 529 plan?

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Frequently Asked Questions

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