(Dallas – June 10, 2021) – In a study1 of FDIC-insured 529 college savings plans, College Savings Bank, a Division of NexBank (CSB) ranked first in the nation based on Annual Percentage Yield (APY) net of fees for Certificates of Deposit (1-, 2-, and 3-year maturity). CSB also had the second highest yield in the nation for savings accounts, based on APY net of fees.
Top Benefits of Saving with an FDIC-Insured 529 Account
A 529 college savings plan is a tax-advantaged account that can be used to pay for education expenses from kindergarten all the way through graduate school. Unlike a traditional 529 college savings plan, an FDIC-insured 529 plan is backed by the full faith and credit of the United States government up to certain limits, in the event of a bank failure.
Read the entire guide to learn about the top benefits of saving with an FDIC-Insured 529 account. Free Download!
College Savings Bank, a Division of NexBank SSB Tops Ranks for Second Consecutive Year in FDIC-insured 529 Plan Study
by: Brian Boswell, SavingForCollege.com
by Kathryn Flynn, Savingforcollege.com | Date Published: 3/11/15
Tax season is well under way, and many of us have been spending the past few weeks getting our financial records in order. When you dig out last year’s filing, you’re relieved to see that almost everything looks the same this year. Except what about that 529 plan you opened for your son in January? Do your college savings need to be reported to the IRS?