529 Plan

Plan for Higher Education

529 Plan

Start Investing Today to Help Pay for Future Education Expenses

529 plans are one of the most popular ways of saving for secondary education. They are sponsored by a state or state agency where savings can be used for tuition, books, and other education-related expenses at most accredited two- and four-year colleges and universities, U.S. vocational-technical schools, and eligible foreign institutions.

Should I Invest in a 529?

Many people saving for college choose 529 plans as their investment vehicles, and that's for good reason. 529 plans offer tax advantages that can help you allocate even more dollars to education expenses. There are a variety of plans available, and you're not limited to just your own state's plan.

What is a 529 Plan?

One of the biggest hurdles to achieving the goal of a college education is the cost.  A 529 is a specialized savings account specifically designed to help save money to pay for college, and in a way that is tax-advantaged for you.

 

Which Plan is Best for You?

Anyone can help save for a child’s education. Grandparents, relatives and even friends can open an account or gift money to an existing account. Though there are a variety of 529 plans, opening a 529 account is relatively straightforward. The main differentiator you need to choose between is a savings or prepaid plan. Savings plans act more like a 401(k) in that they participate in securities, bonds and stocks. A prepaid plan is more like a pension, growing at a guaranteed rate, but with more limitations, such as where and for what the money can be used for.

 

Possible Tax Advantages

Earnings on 529 investments accumulate tax-free, and distributions are tax-exempt, as long as they are applied toward eligible education expenses like tuition and room and board.

Tax-Deferred Growth

Tax Deductions

Tax-Free Withdrawals

Connect With One of Our Experienced Financial Advisors

United Brokerage Services, Inc. can help you with putting together the right college savings strategy for your specific needs. Our Financial Advisors are here to assist.

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United Brokerage Services, Inc., a registered broker-dealer is a subsidiary of United Bankshares, Inc., the issuer of UBSI stock. The investments offered through United Brokerage Services, with the exception of brokerage certificates of deposit, are not bank deposits and are not obligations of, or guaranteed by, any bank. These products are not insured or guaranteed by the FDIC. Investments are subject to risk including possible loss of principal. This information is not legal or tax advice and past performance is no guarantee of future performance.
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