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This guide explains 529s and provides details on the best 529 plans by state. Are you ready to become a CollegeAdvantage 529 plan account owner for one of your loved ones? Asset allocation, diversification, and rebalancing do not ensure a profit or protect against loss in declining markets. 529 … College Savings Calculator. CHET is a tax-advantaged, low cost savings program specifically designed to help families save for future college costs. We are an independent, advertising-supported comparison service. State Plan Name; 1 Indiana: CollegeChoice 529 Direct Savings Plan: 2 West Virginia: SMART529 WV Direct College Savings Plan: 3 Delaware : Delaware College Investment Plan: View Full List Find Plans in your State. 4. You can choose any 529 plan, not just the one from your home state. Enter here and on Form CT-1040, Line 24, or Form CT-1040NR/PY, Line 26. (It’s always wise to refer to IRS Publication 970 to be sure.) ESA vs. 529. Investment Options. There are a wide range of investment options so that you can recommend investment strategies that are right for your clients. To help families save for college, the State of Connecticut offers the Connecticut Higher Education Trust ( One-year rankings are based on a plan's average investment returns over the last 12 months. Earnings in a 529 plan are not subject to state or federal taxes, and Connecticut's plan is no different. See all direct sold in-state and out-of-state 529 plans available to Connecticut residents and compare plans to find the right college savings plan for you 529 plans are excellent for saving for college, but they are confusing. The same rules that apply when using 529 funds to pay for college in the U.S. carry over when using the money to cover the cost of studying abroad. We picked the best plans for performance, low fees, and strong investment options. December 12, 2017. 1 YR. 3 YR. 5 YR. 10 YR. Despite the tax advantages, a 529 college savings plan may not be the best way for a family to save money for college. Top 529 College Savings Plans. LEARN MORE > About CHET Advisor. Like other 529 college savings plans, CHET is designed so that the account holder saves more money over the life of the account. The main differences between an ESA and a 529 plan are: Income Limit. The Connecticut Higher Education Trust is committed to keeping your personal information secure. Advantages vs. disadvantages of 529 plans. Announcement: Hartford Funds will cease serving as Plan Manager to the CHET Advisor 529 Plan in March 2021. The value of a 529 college savings plan, whether it is owned by a dependent student or one of their parents, is considered a parental asset on the FAFSA. 12/19) CHET 1219W 01 9999 See instructions. The 529 tax-advantaged savings plans are authorized by the IRS to encourage people to save for future college costs. Coverdell ESA vs. 529 Plan Comparison Chart. The money in a 529 plan may be used to pay for the college expenses and K-12 tuition of the beneficiary, tax-free. Until recently, this tax-free provision was set to expire in 2010, but, thanks to recent changes to the law, it appears to be a benefit that will be around for years to come. Savingforcollege.com offers three tools for comparing 529 plans across the features that are important to you. Married individuals may open a joint 529 plan as part of the planning process for their child’s college education. A 529 college savings plan is a specialized savings account that is used to save money for college. Many families find that 529 plans work well, helping them achieve their college savings goals. Compare 529 Plans. 529 plans are tax-deferred investments When you invest in a 529 college savings plan, your withdrawals will most likely be tax free. About CHET. A 529 plan could be your Plan B. While 529 plans do offer many advantages, they still require a trade-off from savers. For more information about any 529 college savings plan, contact the plan provider to obtain a Program Description, which includes investment objectives, risks, charges, expenses, and other information; read and consider it carefully before investing. Visit here to sign up today. Always consider your home state plan as it may offer state tax or other benefits for residents. Using CHET Funds . The 529 college savings plan offers an appealing combination of tax advantages, control, flexibility, and minimal impact on student aid. Treasurer Shawn T. Wooden is Trustee of CHET. Some states may offer more than one plan. Sure, most 529 college-savings plans took a beating in the bear market, but they are still a great way to save for college. July 26, 2012 By Jonathan Ping 26 Comments. More Ways to Save . SPONSOR CENTER . But earnings and withdrawals are federal income tax-free when used for qualified education expenses. 4..00 Beneficiary #1, , 1. 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