my529 Utah Educational Savings Plan

A 529 plan is a tax-advantaged vehicle designed to encourage individuals to invest for future qualified higher education expenses. 529 funds can also be used to pay up to $10,000 of annual K-12 tuition expenses. My529 is the official 529 plan established and sponsored by the State of Utah. It is a direct-sold plan, which means you can set up an account and make contributions by dealing directly with my529.

529 Plan Overview

• Earnings aren’t subject to federal or state tax when used for qualified higher education expenses.
• Withdrawals are exempt from federal and state income tax if the funds are used to pay for qualified higher education. expenses, including K-12 tuition expenses.
• Tax credits on contributions.
• Enrollment is open all year.
• Account owners—not the beneficiary—control their accounts.
• There are no age, income, or residency restrictions.
• My529 fees are among the lowest in the 529 industry.
• Plans typically offer a range of investment options.
• Withdrawals can be used at any eligible higher education institution.
• Funds from my529 can be used for college, university, post-secondary vocational or technical school, or graduate school. Funds can be used for tuition at K-12 schools.
• Saving is less costly than borrowing.
• my529 presentation slides
• my529 special offer for USU
• Win a $1,000 scholarship (age 18 and under only)
• What is my529?
• How to contribute to a my529
• How/where to use funds
• Tax advantages of a my529 account
• my529 misconseptions
• my529 July 2024 Updates