Articles and CSF Mentions

Kids and Money: Is a 529 transfer a good idea?

July 1, 2024

June 19, 2024 CSF Chair Chris McGee and ISS data were featured in this column outlining guidelines for families interested in learning about the SECURE 2.0 opportunities for rolling over unused 529 funds into a Roth IRA for the same beneficiary. Read more Continue Reading...

WRNE-AM “Let’s Talk Money” spoke to Chris McGee on CSF Youth Survey Findings

June 6, 2024

CSF Chair Chris McGee met with WRNE-AM Host Robert Hill to tell listeners about the next generation of savvy high schoolers who are saving more than ever before for their higher education. McGee explained the value of 529s in helping students reduce their reliance on debt and grow their savings Continue Reading...

Pittsburgh Post-Gazette features CSF Youth Survey in “Home base: College students are choosing to live at home to save money”

May 23, 2024

May 20, 2024 CSF's 15th Annual Youth Survey findings were featured prominently in Tim Grant's Page One Sunday Business Story in the Pittsburgh Post-Gazette on high school students planning to live at home while attending higher education. Read more Continue Reading...

CNBC: College Savings Foundation Highlights Key 2024 Changes: Expert Vivian Tsai on Improved 529 Plans

May 16, 2024

MAY 15 2024 As the costs at some colleges near $100,000 a year, families need a savings strategy they can bank on. Financial experts and plan investors agree that 529 college savings plans are a smart choice for many. And, as of 2024, there are even more benefits, including higher Continue Reading...

Bankrate: Chris McGee was interviewed by Heidi Rivera on ways to reduce the costs of college and higher education

May 8, 2024

April 27, 2024 A growing number of U.S. employers are nixing college degrees from hiring requirements in job postings, according to Indeed.com. While this may suggest you can skip college and the student loan bill, this news doesn’t tell the whole story. Read More Continue Reading...

College Savings Foundation Chair Chris McGee told Savannah Anchor Tim Guidera from WTOC (CBS) how families can save for higher education with 529s and even jump-start kids’ retirement savings.

March 27, 2024

College Savings Foundation Chair Chris McGee spoke with Shawn Watkins at WSAV-TV (NBC) about the power of 529s in saving for education, reducing reliance on student loans, and rolling unused funds into a Roth IRA

March 20, 2024

https://www.wsav.com/news/new-program-tackles-college-cost-crisis-secure-2-0-offers-a-financial-lifeline/ Continue Reading...

Chris McGee, Chair of CSF, told Savannah Younger at WJCL-TV (ABC) about the conference and how we’re meeting to talk about 529s and the importance of saving.

March 20, 2024

The New York Times: Money in College Savings Accounts Can Now Go Toward Retirement

March 4, 2024

February 16, 2024 Jessica Dickler interviewed CSF Chair Vivian Tsai on the opportunities for families to roll over 529 plan funds into Roth IRAs under SECURE 2.0 as of January 1, 2024. Read More Continue Reading...

CNBC: A ‘significant objection’ to 529 college savings plans will go away on Jan. 1. ‘This is a big deal,’ expert says

December 28, 2023

Jessica Dickler interviewed CSF Chair Vivian Tsai on the opportunities for families to roll over 529 plan funds into Roth IRAs under SECURE 2.0 as of January 1, 2024. Read More Continue Reading...

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Congress created 529 Education Savings Plans in 1996 under Section 529 of the Internal Revenue Code. They are state-sponsored, tax-advantaged vehicles for qualified post-secondary education expenses, such as tuition, fees, books, required supplies, equipment and room and board. There are two types of 529 Plans: savings plans, which allow families to save for expenses, and prepaid tuition programs, which generally allow families to make advance tuition payments to cover future attendance at a designated in-state public college or university system. Most states offer a 529 plan, and some states offer both savings and pre-paid plans.

A primary focus of CSF is building public awareness of and providing public policy support for 529 plans – an increasingly vital college-savings vehicle. CSF’s members include investment managers, broker-dealers, governmental bodies, law firms, accounting and consulting firms, and non-profit agencies that participate in the sponsorship or administration of 529 college savings plans.

College Savings Foundation
1300 Piccard Drive Suite LL14
Rockville, MD 20850
240.404.6478

Email: jdisanza@collegesavingsfoundation.org

PRESERVING, ENHANCING 529 PLANS
CSF’s key program goals are specifically focused on promotion, protection and enhancement of 529 plans.

A FORUM FOR DISCUSSION AND ACTION:
CSF brings together the industry and consumers on policy questions and provides a means for unified action on issues of concern to 529 plan investors and the industry. CSF provides a framework to assist with the orderly development of the programs and, in particular, acts as a resource for policymakers who share CSF’s objective of helping families realize their educational goals.

Tax Benefits

Investments grow on a tax-deferred basis, and earnings are free of federal income tax.
Contributions are eligible for gift tax exclusion as long as certain conditions are met.
Generally, account owners can remove contributions and future earnings from their taxable estate.
Certain 529 plans offer some type of state tax deduction when residents invest in their own state’s plan.

Flexibility

There are currently no income limits. Any U.S. resident or citizen, regardless of income, can open an account.
Account owners can withdraw money at anytime.
Funds may be used to pay qualified education expenses at any qualified educational institution in the U.S. (and some schools abroad), including any accredited public or private college or university, graduate school, two-year community or junior college and vocational and technical schools.
Eligible educational institutions include most U.S. schools and some schools located abroad. The institution must be eligible to participate in the U.S. Department of Education student aid programs. To determine if a school is an eligible education institution, search for its federal school code at www.fafsa.ed.gov.
Most plans offer low initial investments and a variety of investment options fitting various levels of risk and time horizons.

Control

The account owner decides when and how money in the account is withdrawn.
Account owners can change beneficiaries and investment options, according to IRS guidelines.

Start planning for your child’s future today!