Should be able to invest directly into whatever state plan you would like.* Archived Message
Posted by Victor's bananas on March 7, 2017, 13:03:38, in reply to "is that something i can sign up for at any major bank? or do i need to know a guy?* "
Depending on where you live and what plan you select, the contributions should be state tax deductible. I have Bright Start Illinois plan for youngest. Did the college Illinois prepaid for oldest. If it doesn't go broke before we claim the funds, it was the best investment I have ever made. Actuarial were way off and at the time we started that plan they did not differentiate U of I from other state schools. Previous Message Previous Message if it's like illinois, you can deduct the amount of any contribution from state tax (up to a limit). yes, it's better than a savings account. amounts in a 529 are never taxed if used for educational purposes. Previous Message has to be better than some bank savings account, right? help.
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