Press Releases

529 Education Gifting Programs Make Holidays Easy for Families and Friends, College Savings Foundation Says

November 13, 2019

Washington, DC, November 14, 2019 – As the holiday giving season approaches, 529 Education Gifting Programs and their widening array of online gifting tools, crowdfunding platforms, e-gift cards and downloadable gift certificates, are making higher education savings easier for parents, family members and friends, say members of the College Savings Foundation. Continue Reading...

U.S. Parents Prize Saving over Borrowing for Higher Ed, says College Savings Foundation’s 13th Annual Survey

September 16, 2019

Parents across country say debt is biggest barrier to saving Washington, DC – September 17 – Parents across the country have the will and the knowledge to fund their children’s higher education through savings, but still struggle with the realities of debt in meeting their goals. These are key findings Continue Reading...

Gen Zs Focus on Career Paths and Cost Savings in Pursuit of Higher Ed says New Survey by College Savings Foundation

May 22, 2019

High school students realize saving is key to funding higher education Today’s high school students are career-focused and cost-conscious about their decisions to choose and fund higher education, according to the findings of The College Savings Foundation’s (CSF) 10th Annual How Youth Plan to Fund College Survey. The survey gathered Continue Reading...

This Year, College Savings Foundation Survey of Parents Shows Gifts of Education Savings Easier

November 28, 2018

Contact: Lynthia Romney (914) 238-2145/(914) 589-2140 romneycom@gmail.com CSF members find that there is an increase in giving the gift of education savings around the holidays Washington, DC, November 28 – This holiday season, a proliferation of college savings tools such as customized gifting websites, e-gift cards, online registries and gift Continue Reading...

College Savings Foundation 12th Annual Survey

September 5, 2018

Contact: Lynthia Romney (914) 238-2145/(914) 589-2140 romneycom@gmail.com COLLEGE SAVINGS FOUNDATION 12TH ANNUAL SURVEY FINDS PARENTS ARE SAVVY COLLEGE SAVERS WHO VALUE 529 COLLEGE SAVINGS PLANS Survey Infographic 50% of families have a 529 earmarked for their children Washington, DC, September 5 – Today’s parents are savvy college savers who are Continue Reading...

How Youth Plan to Fund College

June 5, 2018

Survey Infographic Contact: Lynthia Romney (914) 238-2145/(914) 589-2140 romneycom@gmail.com GEN Z CHARTS A PRACTICAL PATH TO COLLEGE ACCORDING TO 2018 COLLEGE SAVINGS FOUNDATION SURVEY OF HIGH SCHOOL STUDENTS 9th annual survey reveals focus on skills-building in higher education and saving to get there Washington, DC – Today’s high school students Continue Reading...

Most Parents Say 529 College Gifts Make Education Savings Easier

November 15, 2017

58% of Parents Would Ask for College Savings Gifts Washington, DC – This holiday and year-end gifting season, American families are embracing the ease and abundance of college savings tools such as customized gifting websites, e-gift cards, online registries and gift certificates. New data from the College Savings Foundation (CSF) Continue Reading...

How will Generation Z afford College?

September 19, 2017

Richard Polimeni, Chair of the College Savings Foundation, shares his ideas on how to effectively plan for college using a 529 college savings plan. Share this week’s episode so your community understands their college savings options, and how you can help them achieve their goals! Did you know that the Continue Reading...

2017 Parents Survey

September 5, 2017

Contact: Lynthia Romney (914) 238-2145/(914) 589-2140 romneycom@gmail.com Have 529 College Savings Plans Come of Age? College Savings Foundation (CSF) 2017 Survey Shows Parents Saving More With 529 college savings plans in existence for over 20 years, parents today are embracing saving as their favored way to pay for their children’s Continue Reading...

College Savings Foundation and Nick Jr. Beyond the Backpack Partner to Promote Saving for College

May 24, 2017

529 Savings Plan Events Offer Easy Access to College Savings Tools Washington, DC – May 24 –The College Savings Foundation (CSF) is partnering with Nick Jr. Beyond the Backpack to provide parents with the tools needed to begin planning and saving for their children’s higher education. As part of the partnership, Continue Reading...

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Congress created 529 Education Savings Plans in 1996 under Section 529 of the Internal Revenue Code. They are state-sponsored, tax-advantaged vehicles for qualified post-secondary education expenses, such as tuition, fees, books, required supplies, equipment and room and board. There are two types of 529 Plans: savings plans, which allow families to save for expenses, and prepaid tuition programs, which generally allow families to make advance tuition payments to cover future attendance at a designated in-state public college or university system. Most states offer a 529 plan, and some states offer both savings and pre-paid plans.

A primary focus of CSF is building public awareness of and providing public policy support for 529 plans – an increasingly vital college-savings vehicle. CSF’s members include investment managers, broker-dealers, governmental bodies, law firms, accounting and consulting firms, and non-profit agencies that participate in the sponsorship or administration of 529 college savings plans.

College Savings Foundation
1100 North Glebe Road Suite 1010
Arlington, VA 22201

Phone: 703-224-8083
Fax: 703-224-8001
Email: khamor@collegesavingsfoundation.org

PRESERVING, ENHANCING 529 PLANS
CSF’s key program goals are specifically focused on promotion, protection and enhancement of 529 plans.

A FORUM FOR DISCUSSION AND ACTION:
CSF brings together the industry and consumers on policy questions and provides a means for unified action on issues of concern to 529 plan investors and the industry. CSF provides a framework to assist with the orderly development of the programs and, in particular, acts as a resource for policymakers who share CSF’s objective of helping families realize their educational goals.

Tax Benefits

Investments grow on a tax-deferred basis, and earnings are free of federal income tax.
Contributions are eligible for gift tax exclusion as long as certain conditions are met.
Generally, account owners can remove contributions and future earnings from their taxable estate.
Certain 529 plans offer some type of state tax deduction when residents invest in their own state’s plan.

Flexibility

There are currently no income limits. Any U.S. resident or citizen, regardless of income, can open an account.
Account owners can withdraw money at anytime.
Funds may be used to pay qualified education expenses at any qualified educational institution in the U.S. (and some schools abroad), including any accredited public or private college or university, graduate school, two-year community or junior college and vocational and technical schools.
Eligible educational institutions include most U.S. schools and some schools located abroad. The institution must be eligible to participate in the U.S. Department of Education student aid programs. To determine if a school is an eligible education institution, search for its federal school code at www.fafsa.ed.gov.
Most plans offer low initial investments and a variety of investment options fitting various levels of risk and time horizons.

Control

The account owner decides when and how money in the account is withdrawn.
Account owners can change beneficiaries and investment options, according to IRS guidelines.

Start planning for your child’s future today!