Get Started

529 College Savings Plans

A 529 Plan is a tax-advantaged college savings investment account sponsored by a state or state agency.

  • Easy, flexible way to save for college
  • Anyone can contribute to the plan
  • Funds cover qualifying higher education costs

Compare College Savings Plans

Benefits

It's never too early to invest in your child's future with a flexible college savings account.

  • Account can be opened for anyone (friend, relative or yourself)
  • One beneficiary per account
  • Professionally managed investment options
  • Tax deduction available in some states
  • Earnings grow free of federal taxes
  • Tax-free withdrawals when used for qualifying education expenses

Eligibility

Anyone over the of age 18 can open a 529 College Savings plan. There are no state residency requirements, and funds can be used at any accredited school eligible to accept federal financial aid including:

  • Colleges and universities
  • Graduate schools
  • Community colleges
  • Vocational and technical schools
  • Select private career, technical and international schools
  • To see eligible schools, visit www.fafsa.ed.gov.

Contributions

Invest in a 529 College Savings plan with:

  • No minimum contribution
  • No annual limit
  • Maximum total account value of $350,000 per beneficiary
  • Direct deposit available for recurring contributions

Plan assets are professionally managed either by the state treasurer's office or by an outside investment company hired as the program manager.

Taxes

There are tax benefits associated with a 529 College Savings plan.

  • Distributions for qualified higher education expenses are federal income tax free and may be state income tax free.
  • Earnings grow federal income tax deferred and may be eligible for state tax deductions.

Withdrawals

Qualified withdrawals include college-related expenses such as:

  • Tuition
  • Room and board
  • Mandatory fees
  • Books
  • Supplies
  • Uniforms
  • Computer-related equipment

Get Assistance

By Phone

To arrange a meeting, call 800-642-8545.

By Email

Send us a message.

Personal Services Logon

GO

Contact Us

Send an email

to BB&T Investment Services, Inc.

or call 800-642-8545

Locations

FIND
More search options