Compounding means that any income earned on your investments in the account has the potential to generate additional income in the next year and each year thereafter. Money in a 529 Plan has tax advantages, is professionally managed, and may benefit from the power of compounded growth. We’re happy to help.Īs your student grows, so could your 529 account Savings Bond – transfer funds from other eligible accounts or investments. Rollover/transfer from another 529 Plan or Coverdell Education Savings Account/Qualified U.S.Payroll contribution – if your employer offers it, you can make a contribution to your 529 Plan directly from the pay you receive from your employment.Automatic Investment Plan (AIP) – schedule recurring contributions from your bank account.One-time electronic funds transfer – you can make a transfer from your bank account.You can send checks as often as you like.

Send a check – just write a check and mail it with a contribution coupon and we’ll deposit the funds into your account.

If one child in a family doesn’t end up needing 529 savings, the money can typically be transferred to another eligible family member without tax consequences.īefore you open an account, decide how you want to contribute. With a few basic facts about the beneficiary, they canget started.

Anyone who wants to support a loved one’s future educationįamily members can open 529 accounts for their relatives.Who can open or contribute to a 529 Plan? Anyone!

Fidelity college savings planner