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Take Advantage Of Several 529 Plan Options
July 30th, 2008 by admin
Nearly every state offers section 529 plans for families who wish to save money for their children's college expenses. The quality of each plan, in terms of the possible fees, rules and regulations will vary. Some plans allow the account owner to change beneficiaries, while others do not. The District of Columbia has the DC 529 College Savings program, managed by Calvert. D.C. residents can open an account on behalf of a family member, or themselves with as little as $15 for a payroll deduction plan. There are many investment options which include an age-based portfolio strategy, a single fund investment strategy, and a stability of principal investment strategy. Special tax benefits include tax-deferred contributions and money withdrawn for qualified education expenses is not federally taxed.
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