Press Releases

More High Schoolers Save for College

May 25, 2016

The 7th annual College Savings Foundation survey of high school students across the country shows that 60% are already saving for college, and many are working and planning on loans, aid and scholarships as well. To learn how the next generation is planning to fund college, click here. Continue Reading...

PARENTS GO FOR 529 GIFT CARDS AND ONLINE TOOLS FOR EASIER COLLEGE GIVING

November 5, 2015

This holiday season, American families are embracing the gift of college savings using technology, gift cards and social media platforms. Download the Press Release Continue Reading...

COLLEGE SAVINGS FOUNDATION FINDS THAT 72% OF CHILDREN HAVE ACCUMULATED SAVINGS FOR COLLEGE

September 18, 2015

Nearly three quarters (72%) of children age 18 or under have accumulated savings for college, and for many of them utilizing a 529 college savings plan has been the savings vehicle of choice. In recognition of College Savings Month, the College Savings Foundation has released a snapshot of Americans’ savings Continue Reading...

PARENTS SAVE FOR KIDS’ COLLEGE DESPITE CARRYING STUDENT DEBT

August 4, 2015

College Savings Foundation’s 9th Annual Survey: Parents Motivated to Save Read Survey >> Read Press Release >> Continue Reading...

HIGH SCHOOL STUDENTS GET DOWN TO BUSINESS IN PLANNING AND PAYING FOR COLLEGE, COLLEGE SAVINGS FOUNDATION SURVEY FINDS

May 6, 2015

The College Savings Foundation’s sixth annual How Youth Plan to Pay for College survey of high school seniors, juniors and sophomores across the country found they showed both the will and the way to fund higher education, including greater use of 529 college savings plans. Read Survey >> Continue Reading...

College Savings Foundation Asks for Recall of 529 Tax Treatment Roll-Backs in White House Tax Proposal

January 20, 2015

PR-White-House-State-of-the-Union-2015 UPDATE: The College Savings Foundation is pleased that the President has withdrawn the proposal to roll back the tax incentives in 529 college savings plans. Thanks to the many middle class American families who reached out to Congress and the Administration, encouraging protection of 529 plan benefits. Your voices 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
1300 Piccard Drive Suite LL14
Rockville, MD 20850

Email: jdisanza@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!