I am using a screen reader

Ready to Take
the Next Step?

529 College Savings Plans

A 529 Plan is a tax-advantaged college savings program 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


Eligibility

What are the eligibility requirements to open a 529 College Savings plan?

  • Anyone over age 18
  • No state residency requirements

Contributions

What are the contribution limitations on a 529 plan?

  • No minimum amount
  • No annual limit
  • Maximum total account value of $350,000 per beneficiary (FDIC limits apply)

Taxes

What are the tax benefits of the 529 College Savings Plan?

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

Withdrawals

Qualified withdrawals include college-related expenses such as:

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

Options

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


Get Assistance

 By Phone
To arrange a meeting, call 800-453-7348.

 By Email
Send us a message.

Personal Services Logon

GO

Contact Us

  • Send an email
    to BB&T Investment Services, Inc.
    or call 800-453-7348.

Locations


ZIP CodeFIND
More search options