What is a 529 plan?
The number 529 is the section of the Internal Revenue Code that governs the operation of state-sponsored, tax-advantaged college savings plans. A 529 College Savings Plan allows you to put aside money for future higher education expenses. Most states offer them. The money grows tax deferred and is tax-free when withdrawn if used to pay qualified higher education expenses. And because of their easy eligibility and contribution requirements, many families have found that 529 plans offer the best opportunity to save for college.
Contact Virginia 529 for more information or to request an enrollment kit.
Last Modified on January 20, 2023