The following post is from guest author Ryan Jones. Ryan is a contributory writer associated with Debt Consolidation Care and has written several articles for various financial websites. He holds his expertise in the Debt industry and has made significant contribution through his various articles.
A 529 plan is a kind of savings plan which is especially designed so as to encourage savings for the future college or any other mode of higher education. These savings plans have some tax advantages and are also legally known as the “qualified tuition plans”. The 529 savings plans are named so because they follow Section 529 of the Internal Revenue Code and are mainly administered by the different state agencies and the organizations.
Six Strategies for Beginners:
The best thing to do for your child is to plan for his or her education from now on so that your child does not face any kind of hindrance later in case of higher education. The 529 plan is one such savings that can help your child for future education purposes. Some of the strategies that you can follow as a beginner in order to successfully save money for the future higher education of your child are: