529 College Savings Plan

A 529 College Savings Plan is a tax-advantaged investment account designed to help families save for future education expenses, such as college or vocational school. Contributions are made with after-tax dollars, but investment growth and withdrawals used for qualified education costs are often tax-free. The plan offers a variety of investment options and can be opened by a parent, grandparent, or other family member. It provides a flexible way to plan ahead for education costs, potentially reducing financial burdens when the student enrolls in college or other post-secondary programs.