Compare 529 Plans by Features

Plan

Significant time or age restrictions imposed by the program

None

Fixed-rate CDs have one-, two- or three-year maturities. The CDs are subject to early redemption penalties ranging from 1% to 10% of principal for withdrawals prior to maturity.

None

None

None, except the One-Year Time Savings Account option is subject to early withdrawal penalties.

DC College Savings Plan

District of Columbia

None

The beneficiary must be under 21 years of age and in the 11th grade or younger at the time of enrollment. Plan benefits must be used within 10 years after the expected date of college enrollment (not counting time in the military), unless an extension is requested.

The contract must be purchased at least three years before benefits are used to pay for tuition and fees. The beneficiary must begin using contract benefits within 10 years of the projected enrollment date and then has 10 years to use the benefits.

For Indiana taxpayers claiming a state tax credit on contributions, the account must remain open for at least one year to avoid recapture of the tax credit on distributions used to pay qualified education expenses.

For Indiana taxpayers claiming a state tax credit on contributions, the account must remain open for at least one year to avoid recapture of the tax credit on distributions used to pay qualified education expenses.

Fixed-rate CDs have one- or three-year maturities. The CDs are subject to early redemption penalties ranging from 1% to 10% of principal for withdrawals prior to maturity.

KY Saves 529

Kentucky

None

Refunds requested from the Fixed Earnings fund within 12 months of opening the account will not return any interest.

Beneficiaries must be in the 12th grade or younger at the time of program enrollment and must be enrolled for at least 3 years before they are eligible to receive tuition benefits. Benefits must start to be used within 10 years after the beneficiary's projected date of high school graduation, not including years spent in the U.S. military.

U.Plan

Massachusetts

A tuition certificate must be redeemed within 6 years after its maturity date.

Contract benefits must be used within 15 years after the projected college entrance date.

The beneficiary must be 18 years old or younger at the time of program enrollment. Contract benefits must be used within eight years of the beneficiary's projected college entrance date.

Qualified withdrawals from this plan within three years of establishing the account are subject to Montana tax at the highest Montana marginal rate to the extent of prior Montana tax deductions, but only after removal of non-deducted contributions.

The beneficiary must be in the 9th grade or below and 18 years old or younger at the time the contract is purchased. The beneficiary has up to ten years from high school graduation or until age 30 to begin using benefits, with extensions granted for military service.

None

Scholar's Edge

New Mexico

None

NC 529 Plan

North Carolina

None

None

None

A minimum of 36 months must lapse between the initial purchase date of a Tuition Certificate and its first redemption. A Tuition Certificate must be used by the 30th anniversary of its purchase or it will be cancelled for the refund amount. A refund may be requested only after 12 months have expired since the initial purchase date.

There is an approximate one-year wait after a contribution is made before tuition inflation growth associated with the contribution can be used to pay for college expenses. A non-qualified withdrawal of less than the entire account can be requested one time per year.

Any contribution made to an account must be on the account for 21 days before it can be withdrawn.

The beneficiary may not use the tuition units within three years of the date the units were purchased. Tuition units must be used within ten years after the projected date of high school graduation, excluding any periods of active duty service in the United States Armed Forces.

my529

Utah

None. The requirement that distributions begin by a certain age or date was removed in 2008.

The account must be used within 30 years after the beneficiary graduates from high school or within 30 years after opening the account, whichever is later.

Invest529

Virginia

The account must be used within thirty years after the projected date of high school graduation, or within thirty years after account is opened if the beneficiary has already graduated from high school, unless an extension is granted by the program.

A Tuition Track Portfolio Account must be depleted by the tenth anniversary of the beneficiary's expected usage date.

Units must be used within 10 years after the beneficiary's projected college entrance year or the first use of units, whichever is later.

The beneficiary must be in the 9th grade or below at the time of enrollment. Contract benefits must be used within 10 years after the beneficiary's projected college entrance date.

SMART529 Select

West Virginia

None

None

Edvest

Wisconsin

None