Higher Education: A Small Percentage of Families Save in 529 Plans (Paperback) (ISBN-13: 9781493520640)

Paying for college is becoming more challenging, partly because of rising tuition rates. A college savings plan can be an option to help meet these costs. To encourage families to save for college, earnings from 529 plans-named after section 529 of the Internal Revenue Code-grow tax-deferred and are exempt from federal income tax when they are used for qualified higher education expenses. In fiscal year 2011, the Department of the Treasury estimated these plans represented $1.6 billion in forgone federal revenue. Managed by states, over one hundred 529 plan options were available to families nationwide as of July 2012.

Author: Government Accountability Office
ISBN-10: 1493520644
ISBN-13: 9781493520640
Publisher: Createspace Independent Publishing Platform
Language: English
Published: 10/25/2013
Pages: 68
Format: Paperback
Weight: 0.40lbs
Size: 11.02h x 8.50w x 0.14d