A 529 savings plan is one of the most popular ways of investing for a college education. This plan allows your investments to grow free from federal income taxes, and there are no federal taxes when distributions from the plan are used for qualified higher education expenses, such as tuition, room and board, books, and more.
This is a hypothetical example. The tax rate applied in the above chart is a blended federal and state tax rate of 24.45%. This example does not represent the performance of any particular investment. Income may be subject to federal alternative tax.
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