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If I open a section 529 college savings plan can it go toward anyone's education I want or does it have to go to a benificary that I name now?
Wiki User
∙ 14y ago
You have to open a 529 plan with a named beneficiary. As the owner however, you are allowed to change that beneficiary at any time as long as the new beneficiary is a member of the same extended family. Different plans may have time limits on how long the plan can be open, so be sure to ask all pertinent questions at time of set-up.
Wiki User
∙ 14y ago
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What is college savings?
Money put aside for a future college education.
Which education savings plan is the value of the investment dependent on the performance of the stock market?
529 college savings plan
How can I start saving for my child's education?
College savings plans are called 529 plans. They allow you to prepay for your childs college education. You can read more about them at http://www.savingforcollege.com/
When and how should I set up my child's college savings account?
You should start saving for you child's college savings account as soon as possible. A really good college savings plan is the 529 plan. With this plan you can set aside money for your child's college education and it will continue to grow tax free.
What is a plan that covers all qualified higher education expenses is known as the?
college savings plan
What is a RESP?
A RESP is a registered educational savings plan. It is a plan that allows you to save money for college and education that is tax free.
Where are the headquarters of College Savings Bank?
The College Savings Bank headquarters are located in Princeton, New Jersey. The College Savings Bank offers a range of investment, plans and savings options.
Which education savings plan can be used for K through 12 expenses as well as post-secondary expenses?
Coverdell Education Savings Plan!
Tips for Financing a College Education?
Over the past decade, the cost of tuition for college has increased dramatically. At the same time, the need to go to college in order to succeed professionally has also increased. While it is expensive, there are ways that you can finance a college education. One of the most important tips for financing a college education is to start planning early. To ensure that you have enough money saved for your kids� educations, you should start saving in a 529 savings plan as soon as they are born. These accounts come with several different tax benefits that are not available in other savings accounts.
College Savigns?
form_title=Set Up a College Savings Account form_header=Start saving early to pay for your children's college education. What is the current age of the child?=_ How much do you want to save?=_ How will you be funding this account?=_
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.
What are some ways to plan education for children?
Some of the ways to plan education for children is to set money aside for college or university at an early age. One popular method is by investing in an RESP - or Registered Education Savings Plan.
