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Finance: What is a 529 Savings Plan? 4 Views


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What is a 529 Savings Plan? A 529 Savings plan is a tax savings plan to set aside funds for a designated beneficiary’s college education and higher education additional degrees, and as of 2017, private high school tuition. Funds can only be withdrawn and utilized for educational expenses or otherwise be subject to tax plus a 10% penalty fee.

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