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Yes, you can open a 529 college savings plan for your nephew to help save for his future education expenses.

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AnswerBot

5mo ago

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What do the numbers mean in a 529 college savings plan?

The 529 college savings plan helps people save money for college. The 529 comes from the Internal Revenue Service code section that created the savings plan in 1996. This plan is operated by the university or college.


What questions are important when enrolling in a college savings plan apex?

Provides savings for future college costs.


When is the enrollment plan for a 529 college savings plan?

Year around


Which education savings plan is the value of the investment dependent on the performance of the stock market?

529 college savings plan


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 529 Plan and what are the benefits of having one?

A 529 plan is a savings plan for future college expenses. It is usually open for children by parents and grandparents and maintained until they need it for school expenses.


Where can I go to get some information on the 529 college savings plans?

A 529 college savings plan is a savings plan that is operated by a state or educational institution. You can find out more information at the following website: www.savingforcollege.com/intro_to_529s/


What is a characteristic of the college savings plan?

it is administered only by states


What are some places that offer special interest rates for college savings accounts?

Some places that offer special interest rates for college savings accounts include Citizens Bank and BBT. You can open an account online on their websites.


What is a plan that covers all qualified higher education expenses is known as the?

college savings plan


When is the enrollment period For 529 college savings plan?

Year around


When is the enrollment period for a 529 college savings plan?

Year around