Virginia529 is the country’s largest 529 plan with more than $53 billion in college savings assets as of June 30, 2014. Read on to learn why one million–plus account owners in Virginia and throughout the United States trust Virginia529 for flexible, affordable and tax–advantaged college savings.
- Virginia529 offers four programs including a prepaid tuition program and three savings programs.
- Virginia529 inVEST offers a variety of investment options managed by investment firms including Vanguard and Parnassus.
- Virginia529 prePAID covers in-state undergraduate tuition and mandatory fees for the normal full–time course load at Virginia public two– and four–year colleges and universities. It also can be used toward tuition and fees at other eligible educational institutions.
- CollegeWealth gives savers financial security with FDIC insurance coverage.
- CollegeAmerica offers the unique opportunity to choose from a variety of American Funds® while working with a financial adviser.
- Virginia529 benefits can be used at eligible public and private schools worldwide, not just in Virginia.
- Virginia529 savings programs are open for enrollment throughout the year.
- Virginia529 inVEST, CollegeWealth and CollegeAmerica have no age or residency restrictions.
- Savers may open inVEST and CollegeWealth accounts with as little as $25.
- Virginia529 programs offer some of the lowest overall fees available. In addition, you will pay no fee to open an inVEST (online), prePAID (online) or CollegeWealth account.
- prePAID is available in semester increments, reducing the cost to begin prepaying future tuition.
- Virginia taxpayers may deduct contributions to Virginia529 accounts from their Virginia individual taxable income. The deduction is a maximum of $4,000 per account per year with unlimited carry forward to future tax years.
- Virginia529’s inVEST and CollegeAmerica programs are ranked highly by Morningstar, Kiplinger and Savingforcollege.com.
- The maximum balance of all Virginia529 accounts for a single beneficiary is $350,000.