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What else can I help you with?
How do I start a college savings account in Ohio?
There are many banks that one could start a college savings account from, however if you go to collegeadvantage.com they can help assist you with a 529 college savings account in Ohio.
Who should your family talk about enrolling in a 529 plan or a Cover-dell education savings account?
a financial advisor
What information can you give me on a 529 savings plan?
529 Savings plans are designed to help someone save for college. Most 529 plans are state sponsored.
What happens if I close my 529 account?
If you close your 529 account, you may have to pay taxes and penalties on the earnings, and you may lose out on potential college savings benefits.
Can a 529 Plan be transfered to the Coverdell Education Saving account?
If you move money from a 529 account into a Coverdell Education Savings Account, you pay taxes and a penalty. It is only tax free if you move money FROM a Coverdell ESA to a 529 plan.
Can I open a 529 college savings plan for my nephew?
Yes, you can open a 529 college savings plan for your nephew to help save for his future education expenses.
Who sponsors 529 Plans?
The companies that offer the 529 savings plan are Scottish Friendly, USAA, Wells Fargo, Family Investments, Saving For College and College Savings Service.
What is a characteristic of the college savings plan?
it is administered only by states
Is ScholarShare 529 a legitimate investment option for college savings?
Yes, ScholarShare 529 is a legitimate investment option for college savings. It is a tax-advantaged savings plan designed to help families save for future education expenses.
Invest in Your Child's Future With a 529 Plan?
A 529 savings plan is a special investment that is specifically designed to help you pay for your child's education. It is important to note that there are two types of 529 plans available: Pre-paid Plans- This is a 529 plan run by a specific college, and the money invested in such a plan is intended to be used at that university. College Savings Plans- This is a state run 529 plan. The savings in a state run 529 savings plan can be used at any eligible university in the country.
What are the main differences between a Coverdell Education Savings Account and a 529 plan?
The main differences between a Coverdell Education Savings Account and a 529 plan are the contribution limits, eligible expenses, and investment options. A Coverdell account has lower contribution limits and can be used for K-12 expenses, while a 529 plan has higher contribution limits and is typically used for college expenses. Additionally, 529 plans offer more investment options compared to Coverdell accounts.
Could you explain how a 529 savings plan works?
A 529 Plan is an education savings plan operated by a state or educational institution designed to help families set aside funds for future college costs.
