Business Review
The student loan debt in this country has skyrocketed and become a hardship for recent graduates and families of college-bound students. But if you or your child is interested in higher education, what options do you have? Check out a 529 plan.
A 529 plan is a college savings account that encourages you to save money tax-free for higher education. Each state offers a 529 plan. Their goal is to continue to be a national leader by providing superior, affordable, innovative, tax-advantaged college savings options to help families in achieving their higher education goals. The largest plan is actually in the US and it is Virginia529.
“We have one of the highest ranked and regarded programs in the country. We are the largest program by far and have over 50 billion dollars in assets under management. We’re just under about a quarter of the 529 industry across the country so a lot of families have found comfort in that.”
–CEO, Mary Morris
“529’s can be used by anybody. So a young family, a young couple, you can save for yourself, grandparents. Anybody can really use a 529 plan, you probably have someone in your life that can use higher education at some point and you can help them make that happen.”
–CEO, Mary Morris
You can open an account online and set up automatic payments to help you reach your savings goal.
“We talk about taming the tuition monster…you can make it manageable and make higher education and affordable reality.”
–CEO, Mary Morris
If you don’t live in Virginia you can still invest in a Virginia529 plan but take a look at your home state’s plan first because they may offer a state income tax deduction for residents.
To invest in a Virginia529 plan go on over to their website today.
For more information, visit Virginia529.com.
