529 College Savings Plan

A 529 Plan is a smart way to save—it provides tax advantages when used to pay for eligible1 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 tax2
  • Withdrawals for qualified college expenses are tax free
  • Minimal impact on financial aid if the 529 Plan isn't owned by the student

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.

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.

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.

Ready to get started?

By phone

Arrange a meeting.

800-453-7348

Online

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By mail

Send certificates and correspondence to:

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

Still exploring?

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

To make your decision easier, here are the highlights for the most widely recognized plans.

Learn about tax-advantaged college savings plans.

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

Compare all college savings plans

1Qualified 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.

2Please consult your tax advisor regarding your individual circumstances.

Traditional banking services are provided by Branch Banking and Trust Company, Member FDIC.

Only deposit products are FDIC insured.

Investment solutions are provided by BB&T Investments, a division of BB&T Securities, LLC (opens in a new tab), member FINRA (opens in a new tab)/SIPC (opens in a new tab). BB&T Securities, LLC is a wholly-owned nonbank subsidiary of BB&T Corporation. Securities and insurance products or annuities sold, offered or recommended by BB&T Investments are not a deposit, not FDIC insured, not guaranteed by a bank, not insured by any federal government agency and may lose value.

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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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