Congress Changed 529 College Savings Plans, And Now States Are Nervous
Why the dramatically new vision for the popular college savings plan could cost some states dearly.
If you're like most Americans, you don't have a 529 college savings plan.
If you're like most Americans, you don't even know what it is.
All the more reason to keep reading.
That's because, with the new tax law, Republicans have made important changes to 529 plans that will affect millions of taxpayers, not just the ones saving for college. Before that news, though, a quick primer.
A 529 plan lets families save money for college. Think of it as a love child, born in the mid '90s to your federal and state in the Internal Revenue Code.
