What is a 529 plan?

Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917 A 529 plan is a college savings plan sponsored by a state or state agency. Savings can be used for tuition, books, and other qualified expenses at most accredited colleges and universities.

What is a private college 529 plan?

The Private College 529 Plan is a separate prepaid plan for private colleges sponsored by more than 250 private colleges. Educational institutions can offer a prepaid tuition plan but not a college savings plan. The first education savings plan was a prepaid tuition plan: the Michigan Education Trust (MET) was created in 1986.

What is a 529 ABLE account?

The ABLE Act, which was signed into law in December 2014, allows Americans who are living with disabilities to save money for college and other expenses in a tax-deferred account as a supplement to private insurance and public benefits. Similar to a 529 college savings plan, 529 ABLE accounts are savings accounts administered by the states.