College Savings
Plan and save for education expenses with tax-advantaged accounts, scholarships, and smart funding strategies.
Try College Savings Calculator529 College Savings Plans
Tax-advantaged accounts designed specifically for education expenses.
- Tax-free growth and withdrawals for qualified education expenses
- High contribution limits with no income restrictions
- State tax deductions may be available
- Can be used for K-12 tuition and trade schools
Education Tax Credits
Federal tax credits that can help offset college costs.
- American Opportunity Tax Credit: Up to $2,500 per year
- Lifetime Learning Credit: Up to $2,000 per year
- Income limits apply for both credits
- Can't claim both credits for the same student
Saving Strategies
Effective approaches to build your college fund over time.
- Start early to maximize compound growth
- Automate contributions to stay consistent
- Consider age-based investment portfolios
- Don't sacrifice retirement savings for college
Financial Aid Impact
How college savings affects financial aid eligibility.
- 529 plans are assessed at parent rate (5.64%)
- Student-owned accounts assessed at 20%
- Grandparent 529s not counted as assets
- Roth IRA withdrawals not counted as income