Posted on August 21, 2007 by Greg Herman-Giddens

NC's 529 College Savings Plan Recommended

Money magazine, in a August 2007 article on College Savings Plans, recommended North Carolina's 529 Plan as a good choice for NC residents.  NC's plan features:

  • A tax deduction for contributions (up to $5,000 for a married couple filing jointly)
  • Tax free distributions (when used for qualified higher education expenses
  • Low fees
  • Multiple investment options
  • Use at any college in the U.S.

See my other 529 postings for a more detailed description of the tax rules for 529 Plans.

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