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Saving for college

Discussion in 'The Lounge' started by twistertail, Feb 19, 2005.

  1. I just started my daughters college fund with a 529 plan and any of you that are wanting to save for a family memeber for school should really look into this plan. As long as the money is used for college expenses, tuition books room and board, you dont have to pay any tax on the money it earns when you withdraw it. It grows tax free and as long as its for school its tax free when you withdraw it. And you can use it for any memeber in your family, kids nephews nieces grandkids, as long as its a family member. Also you can deduct whatever you put in there when you file your state tax! Check out the site