Some parents want more flexibility for college savings, but they need to be aware of the impact on financial aid.

Understand the drawbacks of 529 plans, such as penalties and financial aid impact, and discover flexible alternatives.

A 529 plan is a tax-deferred savings vehicle that grows tax-free and helps you pay for higher education and trade schools, elementary or secondary, public, private or religious schools and ...

For a typical family, the tax advantages of a 529 college savings plan outweigh the restrictions on how those funds can be spent, some experts say. In cases where a child doesn't go to college ...

you can now rollover unused funds from a 529 plan to a Roth IRA. However, there are many rules and limitations surrounding this action, so careful consideration should be taken. When Do You ...

529 plans can also be a valuable estate planning tool, he says. "It's perfectly fine to keep money in 529s, and they've really widened the rules on qualified expenses so you can get money out of ...

The SECURE 2.0 Act, which became law in December 2022, changes the 529 plan rules to permit rollovers of some funds from these college savings accounts into a Roth IRA. It could allow transfers to ...

The specific options may also vary depending on the chosen plan provider but can include mutual funds and ETFs. Under IRS rules, contributions to UTMA/UGMA and 529 accounts are gifts subject to ...

Please note: Many 529 College Savings plans now have a digital distribution option (electronic ACH) which saves time and improves transparency with real-time payment tracking. When requesting a ...

Pennsylvania residents with either a Pa. 529 Guaranteed Savings Plan (GSP) or Pa. 529 Investment Plan (IP) are eligible to ...

A 529 college savings plan can be a powerful tool when saving for future education expenses because investments in the plan can increase tax-free, but many savers don’t take full advantage of ...