529 College Savings Plan

It's never too early to start saving for college

A 529 Plan is a smart way to save—it provides tax advantages when used to pay for eligible college expenses.

Best if you

  • Want an easy way to save for college
  • Can commit to using the funds for college expenses
  • Want your earnings to grow tax free

Benefits

  • Earnings grow free of federal tax and often state tax
  • Withdrawals for qualified college expenses are tax free
  • Minimal impact on financial aid if the 529 Plan isn't owned by the student

Not convinced yet?

529 Plans come with unique features that you won't find in any other college savings plan.

Enjoy these additional benefits

  • Open your 529 account for anyone—including a child, grandchild, family friend or even yourself.
  • Beneficiaries are not restricted to the state that sponsors your 529 Plan.
  • Choose a plan from any state—however, there may be incentives to open a 529 Plan from your state of residency.
  • Change your beneficiary at any time without suffering negative tax consequences.
  • Enjoy the tax advantages regardless of your income—anyone is eligible to open a 529 Plan.

Whether your priorities include retirement, education, security, a life event, legacy planning—or all of these—BB&T Investments has solutions to help you reach your goals.

Understand the fine print

  • A qualified expense includes tuition, fees, books, room and board, computers and equipment.
  • An eligible school is generally any post-secondary institution including colleges, universities and vocational schools that are eligible to participate in student aid administered by the US Department of Education.
  • Contributions cannot exceed educational expenses and are not tax deductible.
  • If you need to access some or all of the money in your account for non-educational expenses, your earnings will be taxed as ordinary income plus a 10% penalty.

Ready to get started?

By phone

Arrange a meeting.

800-453-7348

Online

Leave us your contact info, and we'll call you back.

By mail

Send certificates and correspondence to:

BB&T Investments
200 S. College St., 11th Floor
Charlotte, NC 28202

Still exploring?

How Much Should I Save for College?  (Calculator)

Determine your savings goals to attend the college of your choice.

Which College Savings Plan is Best for Me?  (Article)

Understand the pros and cons for a variety of college savings programs.

Market Trends

Not convinced that a 529 College Savings Plan is right for you?

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    Qualified Higher Education Expenses include tuition, all mandatory fees, the costs of required textbooks, supplies and equipment, and certain room and board costs for students who are enrolled at least half time at any accredited school eligible to receive federal financial aid. Non-qualified withdrawals are subject to a federal tax penalty of 10% of earnings and the earnings are taxable as ordinary income.

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    The information provided should not be considered as tax or legal advice. Please consult with your tax advisor and/or attorney regarding your individual circumstances.

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