College Savings Accounts (CSA)
529 College Savings Accounts are state-sponsored,
tax-preferred savings plans for post-secondary
education expenses and can be essential in attaining
access to post-secondary education. It is well
documented that having a college degree means
higher earning potential, access to better jobs
(which often provide benefits such as health
care and retirement plans), provide economic
security, and lead individuals to participate
in homeownership and invest in their communities.
College and/or university expenses are often
a barrier to low- and moderate-income families
who desire to see their children achieve post-secondary
academic success.
CSAs offer states with flexibility to design
the program and to decide on whether to provide
incentives for resident participation. Nebraska's
current 529 College Savings Plan could do more
to encourage greater participation among low-
and moderate-income families. To improve participation,
Nebraska can:
- Provide automatic enrollment for all children
born in the state
- Provide the potential for high account balances
after 18 years of saving
- Offer low-cost investment options
- Engage in outreach to low- and moderate-income
families
For more information on Nebraska's current 529
Savings Plan, please visit: http://www.planforcollegenow.com/
or call 1-888-993-3746
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