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529 Savings Plan - A specialized, tax-advantaged, education savings account under Section 529 of the Internal Revenue Code. You have the option to purchase plans that are:
Direct Sold : Sold directly by the plan manager. These plans are approved and monitored by the state and managed by professional investment firms.
Broker Sold : Sold through financial advisors, who offer professional advice and expertise, and may recommend a plan best suited to an investor.
Prepaid Plan - Plan that allows you to prepay the cost of college. While these generally may only be used for in-state schools, there are a few plans for private and out-of state colleges.
Contract : Plan that promises to pay a predetermined amount of college cost by paying a lump sump or periodic installments.
Unit : Plan that allows you to purchase a certain amount of units of credits that can be used in the future.
Please note: The 529 Comparison Tool compares advisor-sold plans only.
The following assumptions are made in the above calculations:
The 529 Plan Comparison Tool is intended to provide an estimate of savings, fees, and potential state tax advantages of 529 plans based on (a) information on 529 Plans obtained from publicly available sources, including plan disclosure documents and web sites, (b) assumptions, some of which may be provided by the user, with regard to the asset-based fee percentage, and the rate of return on savings, and (c) information provided by the user. These hypothetical scenarios are intended to be an illustration of potential outcomes and are not to be considered advice or recommendations and are not guarantees of future results.
The 529 Plan Comparison Tool is supplied, maintained, and powered by Invite Education, LLC and Invite Education, LLC does not guarantee the accuracy, suitability or usefulness of these results, and shall not be responsible for any investment or trading decisions, gains or losses, or advice resulting from this analysis.
Please consult investment, tax or legal advisors for qualified professional advice in these areas.
All investing is subject to risk, including the possible loss of the money invested.
For more information about any 529 college savings plan, contact the plan provider to obtain a program description, which includes disclosure regarding investment objectives, risks, charges, expenses and other information, and read and consider the program description carefully before investing.
If you are not a taxpayer of the state offering the 529 plan, consider before investing whether your or the designated beneficiary's home state offers any state tax or other benefits, such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state's qualified tuition program. This tool isn't intended to constitute, nor does it constitute, tax advice. Please consult your own tax advisor for more information on the tax implications of investing in a 529 plan based on your own particular circumstances.
Please note that some states may offer more than one tax benefit, and as a result you should consult the selected plan's website and your tax professional for details on any tax benefits for which you may qualify.
Please note that the information above has been obtained by Invite Education, LLC from several sources, including the plan disclosure documents and plan web sites, and may not be accurate or complete, and it should not be used as a sole basis for any investment decision. The information included above is limited and should not be considered as a recommendation for any 529 plan. Also, the information is subject to change at any time. Invite Education, LLC will update the information periodically, but there is no guarantee that the information above is up to date. Please refer to each 529 plan’s plan disclosure document for the most current and complete information regarding investment objectives, risks, fees and expenses and other information regarding such 529 plan. 529 plan disclosure documents contain this and other information you should read carefully before investing.
This information does not consider all 529 plans available, is not complete, and does not discuss all aspects of a 529 plan that should be considered before an investor chooses a 529 plan.
Investments in 529 college savings plans are neither FDIC insured nor guaranteed and may lose value.
This material is provided for general and educational purposes only, and is not intended to provide legal, tax or investment advice. Contact your attorney or other advisor regarding your specific legal, investment or tax situation.
The 529 Plan Comparison Tool compares advisor-sold plans only. Some states offer direct-sold plans where you can enroll directly with the program as well as advisor-sold plans where you enroll through an advisor. Generally, investment options and fee structures vary between direct-sold and advisor-sold plans. Be sure to understand the options available, including fees and expenses before making investment decisions.
Use this tool to compare and contrast different advisor-sold 529 college savings plans.
Your state of residence is used to determine your state tax savings (if any).
This will be used to estimate the future amounts in your 529 savings account.
Your current savings plan will be used to estimate the future amounts in your 529 account.
This, along with your filing status, will be used to determine your state and federal tax savings.