Frequently Asked Questions
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General
1. What is a 529 plan?
     

The 529 College Savings Plan is an investment plan created by Congress in 1996 designed to help families prepare for the expense of a college education. The name is derived from Section 529, the section in the Internal Revenue Code that defines/governs the plan. There are two types of Section 529 plans: prepaid tuition plan and 529 tuition savings plan. (The following questions and answers primarily refer to the 529 savings plans.  For information on prepaid plans select the "Prepaid" category). Click here to check the type of plans available in your state (some states offer both types).
 
2. Can I set up an account for myself to go back to school when I retire?
3. If my child decides to go into the military and does not go to college, what becomes of the money in the account?
4. I already have some money invested in stocks can I move the stock into a 529 account?
5. Where can my child use the 529 funds? What if she wants to go to a foreign university?
6. Can I use the money that I have deposited in my child's 529 account as collateral for a loan?
7. How much do I need to save for my child’s college expenses?
Still Need Help? Ask An Expert

Do you want guidance in selecting a 529 plan?  Click the Contact Us button below and speak to a live advisor, or drop us an email and we will be pleased to assist you. If you are a do-it-yourself person, click the Professor for his assistance in sorting and ranking plans or click on the National Map to locate a specific state's 529 program.

 

 

 

 
 
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