The ABLEnow Program allows eligible individuals to save for qualified disability expenses on a tax-advantaged basis without jeopardizing eligibility for federal means-tested benefits, such as Supplemental Security Income and Medicaid.
- Program typeABLE Savings plan
- Investment ManagerUnderlying mutual funds managed by Vanguard and Fidelity; Deposit Account maintained by PNC Bank
- State agencyVirginia College Savings Plan
- Program ManagerVirginia College Savings Plan
State residency requirements:
Who can be a participant/owner in the program?
Did you know?
VA residents can claim a tax deduction for contributions to a VA 529 plan.
Contributions are deductible in computing state taxable income
529 plan contributions grow tax-free.
Withdrawals are tax-free when used to pay for qualified higher education expenses.
You can contribute as much as you want, as often as you want.
The key is to get started. Enroll today by completing a quick form online.
Bank Money Market Investment / Checking Option:
Fees & Expenses
Enrollment or application fee:
Account maintenance fee:
Program management fees:
Expenses of the underlying investments:
Total asset-based expense ratio:
Fees or restrictions on the number of disbursements
Taxes and other Benefits
Program match on contributions:
State tax deduction or credit for contributions:
State tax recapture provisions:
State tax treatment of qualified distributions:
State tax treatment of rollovers:
Medicaid recapture provisions
Is there a debit card/ purchasing card available, and if so, at what cost?
Statutory protection of an account from creditors:
Did you know?
Residents are not limited to investing in their own state’s 529 plan.
Another state may offer a plan that performs better and has lower fees.
The 529 plan chosen does not affect which state the student enrolls in.
You can live in New York, open a plan from Nevada and send a student to college in Florida.
The best way to maximize your college savings?
Start early and save often. You can get started today with easy online enrollment.