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How to Pick the Right 529 College Savings Plan

By James Ray, Senior College Savings Consultant at TIAA

August 2016

Finding the ideal 529 college savings plan for you doesn’t have to be hard, especially when you can choose from among most state 529 plans, no matter where you live or where your loved one plans to attend college.

To find out which plan is right for you, consider these four important factors:

  1. Plan costs. While the 529 plans managed by TIAA offer some of the lowest plan fees in the country, it’s still important to compare sales charges, maintenance fees and other costs when choosing a plan.

  2. Tax advantages. A number of states let you deduct your annual contribution against your income, potentially lowering your state tax bill.

  3. Contribution limits. Review the minimum and maximum account contribution amounts associated with a plan to make sure they align with your budget and goals.

  4. Investment options. Each state plan offers a variety of investment portfolios, but some plans have more robust menus than others.

Read other articles from our “Latest from James Ray” series here.

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