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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?
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.
What else can I help you with?
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
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.
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/
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.
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 are some effective college savings strategies that can help families prepare for the rising costs of higher education?
Some effective college savings strategies include starting a 529 savings plan, setting up automatic contributions, applying for scholarships and grants, and considering community college or in-state schools to save on tuition costs.
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.
What are the best child plans available for long-term financial security and education savings?
The best child plans for long-term financial security and education savings are typically 529 college savings plans and custodial accounts like UTMA or UGMA. These plans offer tax advantages and flexibility in saving for a child's future education expenses.
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!
