The Benefits of 529 College Savings Plans

The Money Fit Show

Episode #27

The Benefits of 529 College Savings Plans

Guest Name: David Bell

About the Guest: Deputy Director with the office of the Oregon State Treasurer

Most College Savings 529 plans are housed at their state treasurer’s office, so we asked David Bell, a previous guest on the Money Fit Show (Episode 13) back to discuss the ins and outs of how college savings 529 plans can benefit students and their parents.

Episode Topics

1. The Basics of a College Savings 529 Plan
2. Federal and State Tax Benefits for Contributors to 529 Plans
3. Why May 29 Is College Savings Day Each Year
4. Using 529 Plans in States Other than Where You Live
5. Using Your State 529 Plan to Go to School Out of State
6. Using 529 Plan Funds for College, Trade Schools, Apprenticeships, etc.
7. Using 529 College Savings for Private K12 Tuition
8. Options for Your 529 Funds if the Student Chooses Not to Go to College
9. The Minimal Penalty if Funds Are Withdrawn for non-Educational Purposes
10. The Motivational Aspect of a Child Knowing They Have a College Fund
11. Recommendation to Start Researching Your State’s 529 Program

Links referred to in the episode, and how to connect with the guest, David Bell:

Oregon College Saves Program

Oregon State Treasury Savings Network Financial Empowerment

IRS Information about 529 Deductions

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