Luke Minor with WA 529 talks about the collage saving plan and how it can set students up for success. College is one of the biggest expenses people face in their lifetime. 529 plans were created to help parents, future students, friends, and family save money tax-free for eligible expenses, like tuition, fees, room & board, books, and supplies.
There are two kinds of 529 plans, Savings and Prepaid. Families can choose to save in one type of plan or the other, or both to diversify their college savings:
529 Savings Plans, like the DreamAhead College Investment Plan, allow you to pick an investment option and save money based on the market’s performance.