The Benefits of 529 College Savings Plans with David Bell of the Oregon State Treasury
Most College Savings 529 plans are housed at their state treasurer’s office, so we asked David Bell, a previous guest on the Money Fit Show (Episode 13) back to discuss the ins and outs of how college savings 529 plans can benefit students and their parents.
Episode Topics
- The Basics of a College Savings 529 Plan
- Federal and State Tax Benefits for Contributors to 529 Plans
- Why May 29 Is College Savings Day Each Year
- Using 529 Plans in States Other than Where You Live
- Using Your State 529 Plan to Go to School Out of State
- Using 529 Plan Funds for College, Trade Schools, Apprenticeships, etc.
- Using 529 College Savings for Private K12 Tuition
- Options for Your 529 Funds if the Student Chooses Not to Go to College
- The Minimal Penalty if Funds Are Withdrawn for non-Educational Purposes
- The Motivational Aspect of a Child Knowing They Have a College Fund
- Recommendation to Start Researching Your State’s 529 Program
Links referred to in the episode, and how to connect with the guest, David Bell:
Oregon College Saves Program
