529s Insights
Coverdells vs. 529 Plans
Both Coverdell and 529 Plans can be great vehicles for college savings, however,...
Tennesee no longer sells its pre-paid 529 plan.
Type: Direct.
Fund Family: Various
Minimums: The minimum initial and ongoing contribution amount is $25 per investment option.
Maximum Contributions: The Maximum Account Balance Limit is $235,000. 529 plans typically increase the contribution limit over time, so you may be able to contribute more.
Tax Benefits: There are no state income taxes in Tennesee; however, in and out-of-state participants get the federal tax benefits.
Other Benefits: Tennessee residents who rollover from another plan can receive $100.
Residency: CollegeAccess 529 is open to all United States residents, not just those in South Dakota. However, only Tennesee residents can invest directly. Others need to use a financial adviser.
You can learn more about Tennesee’s TNStars 529 plan at the official website.
As of November 22, 2010 you can no longer buy tuition units in the pre-paid plan.
For more information about Tennessee Baccalaureate Education System Trust visit the official website.
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529s Insights
Both Coverdell and 529 Plans can be great vehicles for college savings, however,...
529s Insights
There are several quirks involving lifetime caps and maximum annual deposits. Read ahead...