General Information

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ABLEnow

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.

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  • Program typeABLE Savings plan
  • Investment Manager
    Underlying mutual funds managed by Vanguard and Fidelity; Deposit Account maintained by PNC Bank
  • Inception2016
  • State agency
    Virginia College Savings Plan
  • Program Manager
    Virginia College Savings Plan

Eligibility

State residency requirements:

Who can be a participant/owner in the program?

Program restrictions:

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.

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Contributions

Maximum contributions:

Minimum contributions:

Investment Options

Target-Risk Options:

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 eligibility

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.

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Distributions & Terminations

To whom are distributions made payable:

Account Changes

Policy regarding participant/owner changes:

Documents, Access & Reporting

Does participant have online password-protected access to account?

Can the complete enrollment process including funding be done online?

Documents and other services accessible or downloadable on the program's public Web site:

Contact

Website:

Telephone:

Twitter

ABLEnowVA

Facebook

Start saving for your child's future today


Step 1

Click the blue Enroll Now button to the right

Step 2

Complete the online application and make your first deposit

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