Understand These Five Ways to Get the Most Out of College Savings Plans

You may know them as 529 plans, Qualified Tuition Programs, or QTPs. Whatever you call them, what they amount to is a way for you to help a son, daughter or grandchild pay for college. In short, 529 plans are investment tools designed to help families pay for future expenses associated with college or other qualified post-secondary training for a designated beneficiary, such as a child or grandchild. The fund can be used to help pay for such expenses as tuition, books, supplies, fees, and computer equipment. The plans are…

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