7 Questions to Answer Before Selecting Your 529 Plan

529 college savings plans remain a common and convenient way to save for college. More than 11 million families nationwide have invested almost $260 billion in 529 plans. Are you interested in starting a college savings plan but not sure where to begin? Take our quiz below to get a head start and test your 529 knowledge.

7 Questions to Answer Before Selecting Your 529 Plan

1. When choosing between a traditional 529 college savings plan and a prepaid 529 tuition plan, which is a better option?

2. When selecting a 529 plan are you required to invest in your state’s plan?

3. What is the maximum income the account owner can make in order to contribute to a 529 plan?

4. Can 529 plan funds be used at any college or university in the country?

5. Is there a minimum contribution to open a 529 plan?

6. Will starting a 529 account affect a student’s chances of receiving student aid?

7. Once I’ve decided what plan is best for me how do I set up my plan?

Thanks for testing your 529 plan knowledge. Have a look around collegesavings.org to learn more and find the best plan for your family.

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