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Who can open a 529 plan account?

Anyone who wants to save for a child's education can open a 529 plan account. There may be benefits to opening an account. The account owner keeps control of the money, can make investment decisions, and can even change the beneficiary if plans change. There may be estate tax benefits in some cases.

Should I open a 529 plan for my child?

Planning for your child’s education savings can be daunting. A 529 plan is a great option to cover college and other eligible education costs. It helps reduce taxes and offers flexible and versatile investment options. But figuring out how to open a 529 plan can feel overwhelming if you’re new to it.

How do I use my 529 plan money?

Many accounts let you make an initial deposit so your money gets invested right away (if you pick the savings plan). For most accounts, you can set up recurring transfers from your bank account to your 529 plan, similar to auto bill pay. How you use your 529 plan money depends on the plan type you choose.

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