Is there an age limit to use 529 college savings plan?

Answer 1

There is no age limit for contributing to a 529 college savings plan; however, the beneficiary must be a qualified student who can use the funds for eligible education expenses. While there is no upper age limit for beneficiaries, contributions typically need to be made before the beneficiary turns 30 to maximize the tax advantages associated with the plan. Additionally, funds must be used for qualified expenses by the time the beneficiary reaches a certain age, usually 30, to avoid penalties.