Do you want to save money for your child’s educational needs, but need help learning where to start? Well, let me introduce you to 529 plans; an educational savings plan designed to provide a parent, grandparent, or anyone else an opportunity to contribute to a child’s educational dreams using a tax-advantaged savings vehicle. Today, it is known as a “Qualified Tuition Program” or QTP. In 1996, the 529 plan was created by the United States Congress and has been modified by various pieces of legislation through the years.
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