With college costs ever rising, parents are always looking for ways to make sure they have enough money put away so their kids can get an education. One way to do that is to invest in 529 plans, which allow for tax-deductible savings that grow in a tax-deferred manner.
529 plans were added to the IRS code more than 10 years ago, with assets in 84 plans nationwide now totaling $200 billion. In 2013, the plans grew 20% over the prior year.
1. Maryland College Investment Plan Direct
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