A 529 plan is a tax-advantaged college savings program designed to help make it easier to save for the future higher education of a beneficiary, such as a child or grandchild. It is named after Section 529 of the Internal Revenue Code 26 (USC). If used for qualified education higher expenses, all withdrawals from a 529 plan are free from federal tax.
Savings may also be used for tuition expenses at eligible public, private, and religious primary and secondary educational institutions (K-12).
Residents of all 50 States are able to save in any of the FDIC-insured 529 programs managed by College Savings Bank, a Division of NexBank—Arizona Family College Savings Program-Bank Plan (AFCSP-Bank Plan) and CollegeChoice CD 529 Savings Plan. Plus, we make it simple to Make a Gift to an account.