Residents are not limited to investing in their own state's plan. Another state may offer a plan that performs better and has lower fees.
The plan chosen does not affect which state the student enrolls in. An investor can live in NY, invest in a plan from NV and send a student to college in FL.
Use Facebook and Twitter to invite family and friends to contribute to your child's education. To get a unique code that you can share, log on to your 529 account and click Ugift. Friends and family can easily (and securely) contribute to your child's education at Ugift529.com
I noticed that you link to SavingforCollege.com's article, "529 Plan Details", on this page of your website:
I wanted to send you an additional resource to help your readers considering a 529 college savings plan. A 529 plan attracts families by offering tax advantages and returns on their investment, but there are also several important drawbacks to consider.
Our team of experts at Bankrate.com created an article that outlines these important drawbacks, and provides helpful tips for families interested in opening a college savings plan.
You can view the article here: https://www.bankrate.com/banking/savings/529-college-plan-downsides/
This would be a great addition to the resources you have on your page listed above. Please let me know if it can be included.
Thanks and I look forward to hearing from you!
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Anyone can make a contribution to your child's 529 plan, but those who are feeling especially generous can front-load the account with a large contribution.
Contributions to these savings plans qualify for the gift-tax annual exclusion, which is $15,000 per recipient in 2018 ($30,000 for benefactors who are married).
Well-to-do relatives can also pay for beneficiaries' tuition or medical expenses free of taxes – even if those costs exceed the annual gift tax exclusion - provided the payments go directly to the provider of these services.
"If you're making the payment directly to the college,
Well-to-do relatives can also pay for beneficiaries' tuition or medical expenses free of taxes – even if those costs exceed the annual gift tax exclusion – provided the payments go directly to the provider of these services.
"If you're making the payment directly to the college, it's unlimited,"