For more information about the dc college savings plan (the plan), call , or visit www.
The dc college savings plan is a tax-advantaged 529 college savings investment plan (named after section 529 of the internal revenue code) offered by the district of columbia government. For more information on enrollment, visit the dc college savings plan website and select enrollment or speak with a representative at .
The dc college savings plan makes it easy to plan for college. Knowing your options and setting your goals are essential to creating an effective college savings plan. In this section, youll learn how even small contributions on a regular basis can compound over time.
It is a simple way for parents and grandparents to save money for college or post-secondary vocational school. The dc college savings plan is sponsored by the government of the district of columbia. What can you use a 529 plan to pay for? Tuition room and board computers and laptops books and other tools, if required by the school.
The dc college savings plan is managed by ascensus college savings. Ascensus succeeded calvert investments as program manager in march 2017. The plan features a menu of age-based and static portfolio options utilizing investments from blackrock, vanguard, loomis sayles, jp morgan, dimensional fund advisors (dfa), schwab, and ameritas life.
College savings plan is a traditional 529 plan that allows you to invest money today and reap tax benefits when you withdraw it to pay for qualified education expenses. S 529 plan can be purchased directly or through a financial advisor.
The plan offers several tax advantages that can help you save more for college, including a special dc tax deduction. Dc taxpayers can deduct up to 8,000 for married couples filing jointly, who have separate accounts, (4,000 for individuals) when they contribute to their dc college savings plan account.
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