saving for college
The latest news on saving for college
Some 529 plans say contributions must be received by Dec. 31 – but others have different rules.
Some niche college savings options focus on socially responsible investments and Ivy League tuition.
Links to college savings accounts posted on Facebook may encourage family members to give to 529 plans.
Many 529 plans have a maximum contribution amount, but earnings could also put a plan over.
Contributions to 529 plans will rarely be subject to gift tax, experts say.
Parents should consider a riskier investment strategy for a younger child’s college savings account.
Middle-class families opening a 529 plan may want to check with a tax professional first.
Families who fail to report a college transfer may end up short on tuition.
Weigh cost and likely careers when deciding to use a 529 plan for graduate school instead of college.