Articles and CSF Mentions

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...

Tribune.com “Kids and Money”: Kids and Money: Readers weigh in with money savvy suggestions

December 27, 2023

CSF Chair Vivian Tsai offered advice on how parents can model good savings behavior to show children how to save for long term goals like college; save for big-ticket items, and spending or philanthropy - and then modeling that behavior. Read More Continue Reading...

Pittsburgh Post-Gazette: ‘Tis the season — to gift cash for college savings plans?”

December 18, 2023

Tim Grant interviewed CSF Chair Vivian Tsai on the popularity of 529 gifting programs and why they are catching on as ways for parents to engage friends and family in long-term savings goals. Read More Continue Reading...

Real Wealth Radio: SECURE 2.0 and What Gen Z Wants in Higher Ed

December 15, 2023

Vivian Tsai spoke at length with Real Wealth founder Jim Silbernagel on the flexibility of 529s and the opportunity to rollover leftover 529 funds into a Roth IRA "to invest in a loved one's future." They also discussed what Gen Zs expect in the college experience, how they are paying for it, Continue Reading...

CSF Chair Vivian Tsai talks with The Broadcast Retirement Network

November 29, 2023

Learn more about giving the gift of education for the holiday season. CSF Chair, Vivian Tsai, talks with Jeffrey Snyder on The Broadcast Retirement Network. Vivian talks about the increase in parents' contributes to a college savings plan over the last few years and how it makes an excellent gift. Continue Reading...

“Let’s Talk Money” – WRNE-AM

August 31, 2023

Robert Hill, Host of WRNE-AM's "Let's Talk Money" interviewed CSF Chair Viviian Tsai on Youth Survey and 529s, covering the value of 529s for a wide array of higher education options, and how high school students are saving, working and paying for them. 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!