Saving for College the Smart way - 529 Plans          

 

Delaware 529 Plan

Delaware offers one 529 college savings plan, a traditional 529 savings plan called the Delaware College Investment Plan.

Delaware College Investment Plan

The D.C. College Savings Plan is a traditional 529 plan that allows you to invest money today and reap tax benefits when you withdraw it to pay for qualified education expenses.

Type: Direct – Delaware’s 529 plan can be purchased directly

Fund Family: Fidelity  

Minimums: To get started you can deposit $50 or set up a monthly payment plan of only $15.  The minimum subsequent contribution to Delaware's 529 plan is $15.

Maximum Contributions:  Currently, you can contribute to your Delaware 529 plan until your combined account maximum hits $350,000.  Of course, your total amount in the plan can be higher as your investments group.  529 plans typically increase the contribution limit over time, so you may be able to contribute more.

Tax Benefits:  In and out-of-state participants get the federal tax benefits.

Other Benefits: Through your Deleware College Investment Plan, you have the option to partake in a credit card reward program of up to 2%.

Residency: The Delaware College Investment Plan is open to all United States residents, not only those in Delaware.

You can learn more about the this 529 plan at the official web site.


 


 

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