When it comes to saving for future education, there is no time like the present. A 529 savings account powered by Vestwell can make saving easier and help you build a stronger financial future.
While funds in a 529 account can be used to pay for traditional colleges and universities, it can also be used to pay for community college, apprenticeships, certificate programs, professional schools, technical education, and some k-12s.
Funds in your account aren’t limited to tuition; they can also be used for fees, room and board, books, supplies, equipment, technology, special needs services, and even student loan repayment.
If the 529 plan is owned by a parent and not the student, it counts as a parent asset and is assessed at a lower rate for the Student Aid Index.
Any earnings and withdrawals that are used to pay for qualified education expenses are free of state and federal taxes.
Add money with repeat contributions from the bank account of your choice, set up direct deposit from your paycheck, and even use our Savings Boosters to add a little extra to your savings without extra effort.
Use your unique URL to easily give friends and family a way to contribute to your savings—sharing on social media, by text, and more. Friends and family can even set up gifting profiles and recurring gifts to make it easier to help you reach your goals.
Our easy-to-use portal is available in 18 languages and boasts accessible features to make saving comfortable and intuitive. Plus, our mobile app makes it easy to manage your account anytime, anywhere.
FAQ
No. As long as the money in your 529 account is used for qualified expenses, it will not be counted as income for your state or federal taxes.
Make sure you have this information handy:
A 529 account can be used to pay for a number of education costs. These may include:
Anyone can make contributions to your account to help you reach your goals.