Saving for college

Learn about CollegeBound 529

The power of saving for college

College education is crucial for increasing a child's earning potential. For example, a person with a bachelor's degree can earn up to $24,000 more annually than someone with a high school diploma.1

Earnings grow tax-free in a 529 plan

CollegeBound 529 is a college savings plan designed to help families save for qualified higher-education expenses on a tax-advantaged basis. Accounts can be set up by parents, grandparents and other friends and family — it doesn't matter what state they live in and there are no age or income limitations.

And, while it's best to start early, it's important to remember that it's never too late to save. Even if a child is nearing college or already attending, money contributed to a CollegeBound 529 account can accumulate tax-free earnings for future semesters and eligible graduate programs.

1 Bureau of Labor Statistics, "Earnings and unemployment rates by educational attainment, 2015. March 15, 2016"
Note: Data are for persons age 25 and over. Earnings are for full-time wage and salary workers.